FXWIREPRO: USD/KRW Hovers Around Key Resistance at 1172, a Break Above Targets 1193

FXWIREPRO: USD/KRW Hovers Around Key Resistance at 1172, a Break Above Targets 1193

28 March 2016, 05:22
Roberto Jacobs
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FXWIREPRO: USD/KRW Hovers Around Key Resistance at 1172, a Break Above Targets 1193

  • USD/KRW is currently trading around 1171 levels. 
  • It made intraday high at 1172 and low at 1171 levels. 
  • Intraday bias remains bearish till the time pair holds key resistance at 1172 levels. A sustained break above targets key resistances at 1180/1193/1201 marks. 
  • Alternatively, reversal from key resistance likely to test key support levels at 1153/1142/1129 marks thereafter.

We prefer to take long position in USD/KRW only above 1172, stop loss 1162 and target 1193 levels.

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

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