Fxwirepro: South Korean Won Opens Onshore Trade at 1,125.5 Per U.s. Dollar, Consistent Break Above Targets 1,142

USD/KRW is currently trading around 1,123 levels.

It made intraday high at 1,125 and low at 1,107 marks.

Intraday bias remains bearish till the time pair holds key resistance at 1,127 levels.

A daily close above 1,127 will drag the parity higher towards key resistances at 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 1,122 will test key supports at 1,107/1,090/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.40 percent higher at 2,007.62 points.
We prefer to go short on USD/KRW around 1,125 with stop loss at 1,132 and target of 1,1

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