Fxwirepro: South Korean Won Opens Onshore Trade at 1,103.1 Per Dollar, Faces Key Support at 1,101

USD/KRW is currently trading around 1,105 levels.

It made intraday high at 1,106 and low at 1,103 marks.

Intraday bias remains bullish till the time pair holds key support at 1,101 levels.

A daily close above 1,112 will drag the parity higher towards key resistances at 1,125, 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.

On the other side, a sustained close below 1,101 will test key supports at 1,090/1,078/1,063/1,044 levels respectively.

In addition, South Korea’s Kospi was trading around 0.17 percent higher at 2,053.52 points.

South Korean won opens onshore trade at 1,103.1 per dollar vs 1,103.3 at previous close.
We prefer to go long on USD/KRW only above 1,107 with stop loss at 1,101 and target of 1,125/1,142.

News are provided by InstaForex