USD/KRW is currently trading around 1183 levels. It made intraday high at 1185 and low at 1183 levels. Intraday bias remains neutral for the moment. Pair is moving in a tight range in between 1170 to 1190 marks. A break …
It made intraday high at 1185 and low at 1183 levels.
Intraday bias remains neutral for the moment.
Pair is moving in a tight range in between 1170 to 1190 marks. A break of either side will provide further direction to the parity.
A daily close above 1193 will drag the parity up towards key resistances at 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
A sustained close below 1177 will test key supports at 1172, 1162, 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Daily chart showing the 20D EMA crossed over 30D and 55D EMA but a sustain close above 1193 is also required to confirm the bullish trend. On the contrary, RSI signals bearish trend for the moment.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
