FxWirePro: South Korean won marginally higher on robust PPI data
USD/KRW is currently trading around 1,123 levels. It made intraday high at 1,123 and low at 1,122 marks. Intraday bias remains neutral till the time pair holds key support at 1,122 levels. A daily close above 1,135 will …
It made intraday high at 1,123 and low at 1,122 marks.
Intraday bias remains neutral till the time pair holds key support at 1,122 levels.
A daily close above 1,135 will drag the parity higher towards key resistances at 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
On the other side, a sustained close below 1,122 will test key supports at 1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.10 percent lower at 2,039.46 points.
South Korea September PPI growth y/y increases to -1.1 % vs previous -1.7 %.
South Korea September PPI growth increases to 0.2 % vs previous 0.1 %.
We prefer to go short on USD/KRW only below 1,122, stop loss 1,135 and target 1,111/1,101.
