FxWirePro: USD/KRW remains well supported below key resistance at 1,122, consistent break above targets 1,142
USD/KRW is currently trading around 1,117 levels. It made intraday high at 1,119 and low at 1,115 marks. Intraday bias remains neutral till the time pair holds key resistance at 1,122 levels. A daily close above 1,122 wi…
It made intraday high at 1,119 and low at 1,115 marks.
Intraday bias remains neutral till the time pair holds key resistance at 1,122 levels.
A daily close above 1,122 will drag the parity higher towards key resistances at 1,138, 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
On the other side, a sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.84 percent higher at 2,055.32 points.
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.
