FxWirePro: USD/KRW Hovers Around Key Resistance at 1180, a Break Above Targets 1193
18 May 2016, 06:50
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FxWirePro: USD/KRW Hovers Around Key Resistance at 1180, a Break Above Targets 1193
- USD/KRW is currently trading around 1179 levels.
- It made intraday high at 1177 and low at 1180 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1180 marks.
- A daily close above 1180 will drag the parity up towards key resistances at 1193 (20, 30 and 55D EMA crossover) and 1211 marks.
- Alternatively, a sustained close below 1172 will test key supports at 1162, 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
We prefer to take long position in USD/KRW only above 1180, stop loss 1172 and target 1193/1211 marks.
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