FxWirePro: USD/KRW Rejects 1194 Mark, Intraday Bias Remains Neutral

FxWirePro: USD/KRW Rejects 1194 Mark, Intraday Bias Remains Neutral

6 June 2016, 06:39
Roberto Jacobs
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FxWirePro: USD/KRW Rejects 1194 Mark, Intraday Bias Remains Neutral

  • USD/KRW is currently trading around 1167 levels. 
  • It made intraday high at 1169 and low at 1164 marks. 
  • Intraday bias remains neutral for the moment.   
  • A sustained close below 1162 will tests key supports at 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively. 
  • On the other side, a daily close above 1172 is required to drag the parity higher towards key resistances at 1182, 1195, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively. 
  • Daily chart showing that 20D EMA has crossed over 30D and 55D EMA, which signals bullish trend.

We prefer to take long position in USD/KRW only above 1172, stop loss 1162 and target 1194 marks.

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