FxWirePro: South Korean won depreciates against euro as South Korea’s CPI data fails to meet expectations
EUR/KRW is currently trading around 1,190 mark. Pair made intraday high at 1,192 and low at 1,189 levels. Intraday bias remains neutral till the time pair holds key support at 1,188 mark. A daily close below 1,189 will d…
Pair made intraday high at 1,192 and low at 1,189 levels.
Intraday bias remains neutral till the time pair holds key support at 1,188 mark.
A daily close below 1,189 will drag the parity down towards key supports around 1,184, 1,178, 1,163 and 1,154 marks respectively.
Alternatively, a sustained close above 1,189 will take the parity higher towards key resistances around 1,202, 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
Seoul shares open down 0.11 pct at 2165.23.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s March CPI growth decreases to 0.0 % (forecast -0.2 %) vs previous 0.3 %.
South Korea’s March CPI growth y/y increases to 2.2 % (forecast 2.00 %) vs previous 1.9 %.
We prefer to take short position in EUR/KRW around 1,192, stop loss at 1,198 and target of 1,178/1,172.
