FxWirePro: South Korean won continues to trade in stiff boundaries, sustained close below 1,308 targets 1,287 mark
EUR/KRW is currently trading around 1,319 mark. It made intraday high at 1,321 and low at 1,317 levels. Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,308 to 1,328 mark. A sustained clo…
It made intraday high at 1,321 and low at 1,317 levels.
Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,308 to 1,328 mark.
A sustained close above 1,328 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,308 will drag the parity down towards key supports around 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 0.02 pct lower at 2,093.55 points.
We prefer to take short position on EUR/KRW only below 1,317, stop loss 1,330 and target of 1,308/1,294.
