FxWirePro: USD/KRW Fails to Find Support Above 1153, Intraday Bias Remains Neutral
- USD/KRW is currently trading around 1150 levels.
- It made intraday high at 1154 and low at 1150 levels.
- Intraday bias remains neutral 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.
- Today South Korea released trade balance data with flat numbers at 9.90B m/m vs 9.80B previous release.
- Exports came at -8.1%m/m vs -8.2% m/m previous release while imports stood at -13.9% m/m vs -13.8% m/m previous release.
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.
The material has been provided by InstaForex Company - www.instaforex.com