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- USD/KRW is currently trading around 1140 levels.
- It made intraday high at 1143 and low at 1139 levels.
- Intraday bias remains bullish till the time pair holds key support at 1130 mark.
- A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
- Alternatively, a daily close above 1142 will drag the parity higher towards key resistances at 1152, 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
- In addition, South Korea’s Kospi was trading 0.25% lower at 2,011.08 points.
We prefer to take long position in USD/KRW only above 1142, stop loss 1128 and target 1152/ 1168 marks.
