FxWirePro: USD/KRW Remains Well supported Above 1162, Good to Buy on Dips

FxWirePro: USD/KRW Remains Well supported Above 1162, Good to Buy on Dips

11 May 2016, 05:54
Roberto Jacobs
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FxWirePro: USD/KRW Remains Well supported Above 1162, Good to Buy on Dips

  • USD/KRW is currently trading around 1167 levels. 
  • Intraday bias remains bullish for the moment. 
  • A daily close above 1168 will drag the parity up towards key resistances at 1176/1180/1193/1211 marks. 
  • A sustained close below 1162 will test key supports at 1153/1142/1134/1127/1121/1115 levels respectively. 
  • Today South Korea released unemployment rate with positive numbers at 3.7% m/m vs 3.8% m/m previous release.

We prefer to take long position in USD/KRW around 1164, stop loss 1153 and target 1176/1180.

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