FXWIREPRO: South Korean Won Fails to Sustain Above 1160, Intraday Bias Remains Bearish

FXWIREPRO: South Korean Won Fails to Sustain Above 1160, Intraday Bias Remains Bearish

6 April 2016, 06:50
Roberto Jacobs
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FXWIREPRO: South Korean Won Fails to Sustain Above 1160, Intraday Bias Remains Bearish

  • USD/KRW is currently trading around 1154 levels. 
  • It made intraday high at 1160 and low at 1153 levels. 
  • Intraday bias remains bearish for the moment. 
  • A daily close above 1153 will drag the parity up towards key resistances at 1168/1172/1180/1193 marks. 
  • Alternatively, a sustained close below 1153 tests key supports at 1142/1129/1122 marks respectively.

We prefer to take short position in USD/KRW only below 1153, stop loss 1162 and target 1142 levels.

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


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