FxWirePro: USD/KRW Fails to Find Support Above 1170, Good to Sell on Rallies

FxWirePro: USD/KRW Fails to Find Support Above 1170, Good to Sell on Rallies

9 May 2016, 06:16
Roberto Jacobs
0
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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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