FxWirePro: USD/KRW Stable Around 1168, Intraday Bias Remains Neutral

FxWirePro: USD/KRW Stable Around 1168, Intraday Bias Remains Neutral

6 May 2016, 05:31
Roberto Jacobs
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FxWirePro: USD/KRW Stable Around 1168, Intraday Bias Remains Neutral

  • USD/KRW is currently trading around 1168 levels. 
  • Intraday bias remains neutral till the time pair holds key resistance at 1168 levels. 
  • A daily close above 1168 will drag the parity up towards key resistances at 1172/1180/1193 marks. 
  • A sustained close below 1168 will test key supports at 1153/1142/1134/1127/1121/1115 levels respectively.

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.

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