- USD/KRW is currently trading around 1181 levels.
- It made intraday high at 1182 and low at 1177 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1182 mark.
- A sustained close below 1182 will tests key supports at 1172/1162/1153/1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
- Alternatively, a daily close above 1186 will drag the parity higher towards key resistances at 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
- In addition, South Korea’s Kospi was trading 0.04% lower at 1,926.92 points.
- South Korea’s June consumer sentiment index stays flat at 99 vs previous 99.
We prefer to take short position in USD/KRW around 1180, stop loss 1189 and target 1162/1153 marks respectively.
The material has been provided by InstaForex Company – www.instaforex.com