18.01.201702:48:00UTC+00Fxwirepro: Usd/krw Hits Fresh 6-Week Low at 1,161, sustained Close Below Targets 1,142

• USD/KRW is currently trading around 1,166 levels.
   
• Pair made intraday high at 1,167 and low at 1,161 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 1,161 levels.
   
• A daily close above 1,162 will drag the parity higher towards key resistances at 1,175, 1,186, 1,197, 1,203, 1,211, 1,220 (March 03, 2016 high) and 1,244 marks respectively.
   
• On the other side, a sustained close below 1,162 will test key supports at 1,152/1,142/1,132/1,127/1,117 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current down side movement is short term trend correction only.

We prefer to go short on USD/KRW around 1,166 with stop loss at 1,175 and target of 1,142/1,127.