FxWirePro: South Korean Won Fails to Sustain Below Fresh 5-Month High, Intraday Bias Remains Neutral
20 April 2016, 06:13
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FxWirePro: South Korean Won Fails to Sustain Below Fresh 5-Month High, Intraday Bias Remains Neutral
- USD/KRW is currently trading around 1132 levels.
- It made intraday high at 1132 and low at 1128 levels.
- Intraday bias remains neutral for the moment.
- A daily close above 1135 will drag the parity up towards key resistances at 1142/1153/1168/1172/1180/1193 marks.
- Alternatively, a sustained close below 1126 tests key supports at 1122/1115/1101 marks respectively.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
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