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- USD/KRW is currently trading around 1160 levels.
- It made intraday high at 1163 and low at 1160 levels.
- Today South Korea released consumer confidence data with positive numbers at 100 vs 98 previous release.
- Intraday bias remains bearish till the time pair holds key resistance at 1172 levels. A sustained break above targets key resistances at 1180/1193/1201 marks.
- Alternatively, reversal from key resistance likely to test key support levels at 1153/1142/1129 marks thereafter.
We prefer to take short position in USD/KRW around 1162, stop loss 1173 and target 1153/1142 levels.
