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- USD/KRW is currently trading around 1,110 levels.
- It made intraday high at 1,111 and low at 1,102 marks.
- Intraday bias remains bullish till the time pair holds key support at 1,102 levels.
- A daily close above 1,112 will drag the parity higher towards key resistances at 1,122, 1,138, 1,142, 1,152, 1,162, 1,176, 1,182, 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 1,102 will test key supports at 1,090/1,078/1,063/1,044 levels respectively.
- In addition, South Korea’s Kospi was trading around 1.72 percent lower at 2,002.22 points.
We prefer to go long on USD/KRW only above 1,112 with stop loss at 1,102 and target of 1,125/1,142.
