FxWirePro: South Korean won depreciates against euro, hits lowest level since Dec 12
EUR/KRW is currently trading around 1,312 mark. It made intraday high at 1,314 and low at 1,301 levels. Intraday bias remains bullish till the time pair holds key support at 1,300 mark. A sustained close above 1,311 will…
It made intraday high at 1,314 and low at 1,301 levels.
Intraday bias remains bullish till the time pair holds key support at 1,300 mark.
A sustained close above 1,311 will take the parity higher towards key resistances around 1,323, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,292, 1,282, 1,274, 1,265 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 1.37 pct lower at 2,145.35 points.
We prefer to take long position on EUR/KRW around 1,308, stop loss at 1,297 and target of 1,323/1,347.
