FxWirePro: EUR/KRW remains well supported below 1,322 mark, stay short
EUR/KRW is currently trading around 1,314 mark. It made intraday high at 1,318 and low at 1,314 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,317 mark. A sustained close above 1,317 w…
It made intraday high at 1,318 and low at 1,314 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,317 mark.
A sustained close above 1,317 will take the parity higher towards key resistances around 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278 and 1,268 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 0.08 pct lower at 2,030.30 points.
South Korea’s FX reserves stands at 403.32B vs 401.48B previous release.
We prefer to take short position on EUR/KRW around 1,316, stop loss 1,322 and target of 1,302.
