FxWirePro: USD/KRW Fails to Find Support Above 1153, Intraday Bias Remains Neutral

FxWirePro: USD/KRW Fails to Find Support Above 1153, Intraday Bias Remains Neutral

15 April 2016, 05:40
Roberto Jacobs
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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



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