FxWirePro: USD/KRW trading in tight range, intraday bias remains neutral

• USD/KRW is currently trading around 1164 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1162 marks.
   
• Pair is trading in tight range from 1162 to 1172 marks.
   
• A break of either side will provide further direction to the parity.
   
• A daily close above 1172 will drag the parity up towards key resistances at 1176/1180/1193 (20, 30 and 55D EMA crossover)/1211 marks.
   
• A sustained close below 1162 will test key supports at 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.