- USD/KRW is currently trading around 1157 levels.
- It made intraday high at 1160 and low at 1155 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1167 mark.
- A sustained break below 1152 will tests key supports 1142/1134/1127 (October 2015 low) /1121/1115 levels respectively.
- Alternatively, a daily close above 1167 will drag the parity higher towards key resistances at 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
- In addition, South Korea’s Kospi was trading 0.97% higher at 1,972.92 points.
We prefer to take short position in USD/KRW around 1158, stop loss 1172 and target 1142/ 1127 respectively.
The material has been provided by InstaForex Company – www.instaforex.com