- USD/KRW is currently trading around 1,150levels.
- Pair made intraday high at 1,152 and low at 1,149 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 1,152 marks.
- A daily close above 1,149 will drag the parity higher towards key resistances at 1,155, 1,168, 1,172, 1,186, 1,197, 1,203, 1,211 marks respectively.
- On the other side, a sustained close below 1,149 will test key supports at 1,142/1,133/1,124/1,117/1,107 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/KRW around 1,150, stop loss 1,155 and target of 1,142/1,132/1,127.
