- USD/KRW is currently trading around 1,169 levels.
- It made intraday high at 1,171 and low at 1,165 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 1,172 levels.
- A daily close above 1,172 will drag the parity higher towards key resistances at 1,182, 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 1,160 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 0.05 percent lower at 1,973.36 points.
- South Korea October export growth revised stays flat at -3.2 % vs previous -3.2 %.
- South Korea October import growth revised increase to -4.8 % vs previous -5.4 %.
- South Korea October trade balance revised decrease to 6.97 bln $ vs previous 7.20 bln $.
We prefer to go long on USD/KRW only above 1,172, stop loss 1,160 and target 1,196.
