FxWirePro: EUR/KRW hovers around key support at 1,327 mark, sustained close below targets 1,302 mark
EUR/KRW is currently trading around 1,327 mark. It made intraday high at 1,328 and low at 1,327 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,342 mark. A sustained close above 1,342 w…
It made intraday high at 1,328 and low at 1,327 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,342 mark.
A sustained close above 1,342 will take the parity higher towards key resistances around 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,327 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 0.20 pct higher at 1,969.54 point.
South Korea Fx reserves – USD Aug stands at 401.48B vs 403.11B previous release.
We prefer to take short position on EUR/KRW around 1,330, stop loss 1,342 and target of 1,311/1,302.
