FxWirePro: South Korean won depreciates in early Asia as export - import price index data miss expectations
EUR/KRW is currently trading around 1,330 mark. Pair made intraday high at 1,331 and low at 1,328 levels. Intraday bias remains neutral till the time pair holds key support at 1,328 mark. A sustained close above 1,328 wi…
Pair made intraday high at 1,331 and low at 1,328 levels.
Intraday bias remains neutral till the time pair holds key support at 1,328 mark.
A sustained close above 1,328 will take the parity higher towards key resistances around 1,342, 1,357, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,328 will drag the parity down towards key supports around 1,323, 1,308, 1,302, 1,288, 1,272 and 1,264 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Korea, South Jan export price growth y/y decrease to -3.5 % vs previous -2 % (revised from -2.1 %).
Korea, South Jan import price growth y/y decrease to -2.4 % vs previous -0.9 % (revised from -1 %).
Seoul shares open up 0.73 pct.
We prefer to take short position on EUR/KRW only below 1,328, stop loss at 1,338 and target of 1,308.
