- USD/KRW is currently trading around 1,136 levels.
- It made intraday high at 1,136 and low at 1,132 marks.
- Intraday bias remains bullish till the time pair holds key support at 1,122 levels.
- A daily close above 1,132 will drag the parity higher towards key resistances at 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 1,122 will test key supports at 1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- In addition, South Korea’s Kospi was trading around 0.47 percent higher at 2,042.52 points.
We prefer to go long on USD/KRW only above 1,137, stop loss 1,122 and target 1,152/1,168.
