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- USD/KRW is currently trading around 1173 levels.
- It made intraday high at 1175 and low at 1169 marks.
- Intraday bias remains bullish till the time pair holds key support at 1162 marks.
- A sustained close below 1162 will tests key supports at 1152, 1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
- Alternatively, current upside movement will drag the parity higher towards key resistances at 1176, 1182, 1196 (June 01, 2016 high), 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
We prefer to take long position in USD/KRW only above 1176, stop loss 1162 and target 1196 marks.
