- USD/KRW is currently trading around 1,127 levels.
- It made intraday high at 1,127 and low at 1,125 levels.
- Intraday bias remains neutral for the moment.
- A sustained close below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
- Alternatively, reversal from immediate support will drag the parity higher towards key resistances at 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 0.45 percent lower at 2,016.28 points.
We prefer to take short position in USD/KRW only below 1,126 with stop loss at 1,142 and target 1,115/1101.
