- USD/KRW is currently trading around 1164.20 levels.
- It made intraday high at 1165 and low at 1164 marks.
- Intraday bias remains neutral for the moment.
- A sustained close below 1162 will tests key supports at 1152/1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
- Alternatively, a daily close above 1172 will drag the parity higher towards key resistances at 1176, 1182, 1196 (June 01, 2016 high), 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
- In addition, South Korea’s Kospi was trading 1.08% higher at 1,974.37 points.
We prefer to take short position in USD/KRW only below 1162, stop loss 1176 and target 1152/1148 marks.
The material has been provided by InstaForex Company – www.instaforex.com