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FxWirePro: South Korean won gains as BoK stands pat

Tuesday, April 19, 2016 1:23 AM UTC

USD/KRW is currently trading around 1143 levels.
It made intraday high at 1146 and low at 1143 levels.
Today Bank of Korea base rate stays flat at 1.50 % (forecast 1.50 %) vs previous 1.50 %.
Intraday bias remains bearish for the moment.

A daily close above 1153 will drag the parity up towards key resistances at 1168/1172/1180/1193 marks.
Alternatively, a sustained close below 1142 tests key supports at 1129/1122 marks respectively.

We prefer to take short position in USD/KRW only below 1140, stop loss 1153 and target 1123 levels.

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FxWirePro: South Korean won gains as BoK stands pat

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