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FxWirePro: South Korean won trades marginally lower as current account data misses expectations

Tuesday, January 8, 2019 1:47 AM UTC

EUR/KRW is currently trading around 1,281 mark.
It made intraday high at 1,283 and low at 1,280 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,290 mark.
A sustained close above 1,281 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,281 will drag the parity down towards key supports around 1,268, 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Korea, South Nov 2018 current account bal nsa decrease to 5.06 usd vs previous 9.19 usd (revised from 9.19 usd).
Seoul shares open up 0.08 pct.

We prefer to take long position on EUR/KRW only above 1,290, stop loss at 1,268 and target of 1,307.

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FxWirePro: South Korean won trades marginally lower as current account data misses expectations

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