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- USD/KRW is currently trading around 1,121 levels.
- It made intraday high at 1,123 and low at 1,121 marks.
- Intraday bias remains bullish till the time pair holds key support at 1,107 levels.
- A sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
- Alternatively, current upward trend will drag the parity higher towards key resistances at 1,128, 1,138, 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.
- In addition, South Korea’s Kospi was trading around 0.02 percent lower at 2,049 points.
We prefer to take long position in USD/KRW only above 1,124 with stop loss at 1,107 and target of 1,142/1,152.
