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- USD/KRW is currently trading around 1,182 levels.
- It made intraday high at 1,184 and low at 1,181 marks.
- Intraday bias remains bullish till the time pair holds key support at 1,171 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 1,172 will test key supports at 1,152/1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- South Korea’s Kospi was trading 0.83 percent lower at 1,971.36 points.
We prefer to go long on USD/KRW above 1,182, stop loss at 1,172 and target of 1,196.
