FXWIREPRO: USD/KRW Fails to Sustain Below Key Support at 1142, Likely to Stay Range Bound

FXWIREPRO: USD/KRW Fails to Sustain Below Key Support at 1142, Likely to Stay Range Bound

• USD/KRW is currently trading around 1146 levels. 
• It made intraday high at 1147 and low at 1141 levels. 
• Intraday bias remains neutral for the moment. 
• Key support and resistance levels are seen at 1142 and 1153 marks respectively. A sustain break of either side is require to confirm the bullish or bearish trend. 
• A daily close above 1153 will drag the parity up towards key resistances at 1168/1172/1180/1193 marks. 
• Alternatively, a sustain close below 1142 tests key supports at 1129/1122 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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