FXWIREPRO: South Korean Won Falls by 1 Pct Against US Dollar, Good to Buy on Dips
- USD/KRW is currently trading around 1155 levels.
- It made intraday high at 1156 and low at 1144 levels.
- Intraday bias remains bullish 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 1142 tests key supports at 1129/1122 marks respectively.
We prefer to take long position in USD/KRW above 1153, stop loss 1141 and target 1172 levels.
The material has been provided by InstaForex Company - www.instaforex.com