FxWirePro: USD/KRW struggles to break key support at 1130, bias remains neutral
USD/KRW is currently trading around 1134 levels. It made intraday high at 1139 and low at 1132 levels. Intraday bias remains neutral till the time pair holds key support at 1130 mark. A sustained break below 1128(October…
It made intraday high at 1139 and low at 1132 levels.
Intraday bias remains neutral 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, reversal from key support will drag the parity higher towards key resistances at 1142, 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 0.05% higher at 2,018.08 points.
We prefer to take short position in USD/KRW only below 1128, stop loss 1142 and target 1115/ 1095 marks.
