FxWirePro: USD/KRW remains well supported above 1168, a break below targets 1152
USD/KRW is currently trading around 1169 levels. It made intraday high at 1171 and low at 1168 marks. Intraday bias remains neutral for the moment. A sustained close below 1168 will tests key supports at 1162/1152/1142 (…
It made intraday high at 1171 and low at 1168 marks.
Intraday bias remains neutral for the moment.
A sustained close below 1168 will tests key supports at 1162/1152/1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, a daily close above 1176 will drag the parity higher towards key resistances at 1182, 1196 (June 01, 2016 high), 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.68% higher at 1,965.37 points.
We prefer to take short position in USD/KRW only below 1168, stop loss 1176 and target 1152 marks.
