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FxWirePro: USD/KRW struggles to break key resistance at 1142, buy on dips

Wednesday, July 20, 2016 1:58 AM UTC

USD/KRW is currently trading around 1140 levels.
It made intraday high at 1143 and low at 1139 levels.
Intraday bias remains bullish till the time pair holds key support at 1130 mark.
A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
Alternatively, a daily close above 1142 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 0.25% lower at 2,011.08 points.

We prefer to take long position in USD/KRW only above 1142, stop loss 1128 and target 1152/ 1168 marks.

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FxWirePro: USD/KRW struggles to break key resistance at 1142, buy on dips

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