- USD/KRW is currently trading around 1,174 levels.
- It made intraday high at 1,178 and low at 1,172 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 1,187 levels.
- A daily close above 1,182 will drag the parity higher towards key resistances at 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
- On the other side, a sustained close below 1,168 will test key supports at 1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- South Korea’s Kospi was trading 0.85 percent higher at 1,982.42 points.
We prefer to go short on USD/KRW around 1,176, stop loss at 1,187 and target of 1,162/1,152.
