FxWirePro: EUR/KRW rejects key support at 1,280 mark, upside limited
EUR/KRW is currently trading around 1,283 mark. It made intraday high at 1,285 and low at 1,283 levels. Intraday bias remains neutral till the time pair holds key support at 1,280 mark. A sustained close above 1,283 will…
It made intraday high at 1,285 and low at 1,283 levels.
Intraday bias remains neutral till the time pair holds key support at 1,280 mark.
A sustained close above 1,283 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,280 will drag the parity down towards key supports around 1,278, 1,268 and 1,244 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.16 point lower at 2,140.27.
We prefer to take short position on EUR/KRW only below 1,280, stop loss at 1,294 and target of 1,244.
