FxWirePro: USD/KRW Fails to Find Support Above 1170, Good to Sell on Rallies
9 May 2016, 06:16
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FxWirePro: USD/KRW Fails to Find Support Above 1170, Good to Sell on Rallies
- USD/KRW is currently trading around 1165 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1172 levels.
- A daily close above 1172 will drag the parity up towards key resistances at 1180/1193 marks.
- A sustained close below 1162 will test key supports at 1153/1142/1134/1127/1121/1115 levels respectively.
We prefer to take short position in USD/KRW around 1168, stop loss 1172 and target 1153/1142.
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