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- USD/KRW is currently trading around 1205.80 marks.
- It made intraday high at 1213.40 and low at 1205.10 levels.
- Intraday bias remains bearish for the moment till the time pair holds key resistance at 1217 levels.
- Today South Korea's central bank held its base rate steady at 1.5% for the ninth straight month as expected Thursday.
- A current downfall from 1217 will likely to break key support level at 1197.80 and 1180 marks thereafter.
- A daily close below key support at 1197 is required to confirm the bearish trend.
- Alternatively, reversal from key support area will take the parity back above 1217/ 1235 marks.
We prefer to take short position in USD/KRW around 1205, stop loss 1213 and target 1197/1187 levels thereafter.
