FxWirePro: EUR/KRW enjoys roller coaster movement, faces key support at 1,336 mark
EUR/KRW is currently trading around 1,346 mark. It made intraday high at 1,346 and low at 1,339 levels. Intraday bias remains bullish till the time pair holds key support at 1,336 mark. A sustained close above 1,377 will…
It made intraday high at 1,346 and low at 1,339 levels.
Intraday bias remains bullish till the time pair holds key support at 1,336 mark.
A sustained close above 1,377 will take the parity lower towards key resistances around 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,336 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 2.80 pct higher at 1,498.52 points.
South Korea’s PPI m/m stands at -0.3 pct vs 0.4 pct previous release.
South Korea’s PPI y/y stands at 0.7 pct vs 1.1 pct previous release.
We prefer to take short position on EUR/KRW only below 1,336, stop loss at 1,362 and target of 1,318/1,298.
