- USD/KRW is currently trading around 1143 levels.
- It made intraday high at 1146 and low at 1142 levels.
- Intraday bias remains neutral till the time pair holds key support at 1142 mark.
- A sustained break below 1142 will tests key supports 1134/1127 (October 2015 low) /1121/1115 levels respectively.
- Alternatively, reversal from key support will drag the parity higher towards key resistances at 1152, 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
- In addition, South Korea’s Kospi was trading 0.22% lower at 2,001.92 points.
- Today South Korea Central Bank holds base rate steady at 1.25 pct as widely expected.
We prefer to take short position in USD/KRW only below 1142, stop loss 1157 and target 1127 marks.
