FXWIREPRO: USD/KRW Hovers Just Above Key Support Level at 1153, Intraday Bias Remains Bearish

FXWIREPRO: USD/KRW Hovers Just Above Key Support Level at 1153, Intraday Bias Remains Bearish

23 March 2016, 04:39
Roberto Jacobs
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FXWIREPRO: USD/KRW Hovers Just Above Key Support Level at 1153, Intraday Bias Remains Bearish

  • USD/KRW is currently trading around 1156 levels. 
  • It made intraday high at 1157 and low at 1155 levels. 
  • Intraday bias remains bearish till the time pair holds key resistance at 1164 levels. 
  • A break above targets key resistances at 1173/1180/1193/1201 marks. 
  • Alternatively, a sustained close below 1153 tests 1142/1129 marks thereafter.

We prefer to take short position in USD/KRW around 1157, stop loss 1164 and target 1142/ 1129 levels.

The material has been provided by InstaForex Company - www.instaforex.com

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