USD/KRW is currently trading around 1190 levels. It made intraday high at 1192 and low at 1185 marks. Pair is moving in a firm range from 1185 to 1195 marks. Intraday bias remains neutral till the time pair holds key res…
It made intraday high at 1192 and low at 1185 marks.
Pair is moving in a firm range from 1185 to 1195 marks.
Intraday bias remains neutral till the time pair holds key resistance at 1195 marks.
A daily close above 1194 is required to drag the parity higher towards key resistances at 1195, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
Alternatively, a sustained close below 1182 will tests 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 has crossed over 30D and 55D EMA, which signals bullish trend. In addition, a sustained close above 1194(high as on May 24, 2016) is also required to confirm the same.
We prefer to take long position in USD/KRW only above 1194, stop loss 1177 and target 1209 marks.
