FxWirePro: USD/KRW stabilises around 1,100 mark, bias remains neutral
USD/KRW is currently trading around 1,100 levels. It made intraday high at 1,102 and low at 1,097 levels. Intraday bias remains neutral for the moment. A sustained close below 1,096 will test key supports at 1,078/1,063/…
It made intraday high at 1,102 and low at 1,097 levels.
Intraday bias remains neutral for the moment.
A sustained close below 1,096 will test key supports at 1,078/1,063/1044 levels respectively.
Alternatively, reversal from immediate support will drag the parity higher towards key resistances at 1,107, 1,117, 1,124, 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.
South Korea July import price growth y/y decrease to -7.1 % vs previous -4.9 %.
South Korea July export price growth y/y decrease to -7.5 % vs previous -4.9 %.
We prefer to take long position in USD/KRW only above 1,107 with stop loss at 1,097 and target of 1,122/ 1,142.
