Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/KRW remains well supported below 1,150 mark, stay bearish

  • USD/KRW is currently trading around 1,143 levels.
     
  • Pair made intraday high at 1,147 and low at 1,142 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 1,148 marks.
     
  • A daily close above 1,142 will drag the parity higher towards key resistances at 1,148, 1,155, 1,168, 1,172, 1,186, 1,197, 1,203, 1,211 marks respectively.
     
  • On the other side, a sustained close below 1,142 will test key supports at 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.
     
  • South Korea’s December L-money supply growth decreases to 7.5 % vs prev 8.0 %.

We prefer to take short position in USD/KRW only below 1,142, stop loss 1,153 and target of 1,132/1,127.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.