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FxWirePro: South Korean won opens onshore trade at 1,151.5 per dollar, bias remains bullish above 1152

Tuesday, July 12, 2016 1:59 AM UTC

USD/KRW is currently trading around 1151 levels.
It made intraday high at 1152 and low at 1148 levels.
Intraday bias remains bullish 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, a daily close above 1152 will drag the parity higher towards key resistances at 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.43% higher at 1,997.92 points.

We prefer to long position in USD/KRW only above 1152, stop loss 1142 and target 1168/ 1172 respectively.

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FxWirePro: South Korean won opens onshore trade at 1,151.5 per dollar, bias remains bullish above 1152

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