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- USD/KRW is currently trading around 1153 levels.
- It made intraday high at 1154 and low at 1147 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 0.36% lower at 1,988.92 points.
We prefer to take long position in USD/KRW only above 1152, stop loss 1142 and target 1168/ 1176 respectively.
