FxWirePro: USD/KRW stabilizes around 1,127 mark as BOK keeps base rate unchanged at 1.25 pct
USD/KRW is currently trading around 1,126 levels. It made intraday high at 1,127 and low at 1,125 marks. Intraday bias remains bullish till the time pair holds key support at 1,117 levels. A daily close above 1,127 will …
It made intraday high at 1,127 and low at 1,125 marks.
Intraday bias remains bullish till the time pair holds key support at 1,117 levels.
A daily close above 1,127 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 1,117 will test key supports at 1,107/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.38 percent lower at 2,026.46 points.
South Korea October Bank of Korea base rate stays flat at 1.25 % (forecast 1.25 %) vs previous 1.25 %.
We prefer to go long on USD/KRW only above 1,127, stop loss 1,117 and target 1,142.
