FxWirePro: South Korean won depreciates remarkably in early Asia; hits lowest level since August 23, 2019
EUR/KRW is currently trading around 1,360 mark. It made intraday high at 1,362 and low at 1,340 levels. Intraday bias remains bullish till the time pair holds key support at 1,340 mark. A sustained close above 1,341 will…
It made intraday high at 1,362 and low at 1,340 levels.
Intraday bias remains bullish till the time pair holds key support at 1,340 mark.
A sustained close above 1,341 will take the parity lower towards key resistances around 1,363, 1,390, 1,400 and 1,428 marks respectively.
On the other side, a daily close below 1,341 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 2.89 pct lower at 1,981.03 points.
We prefer to take long position on EUR/KRW around 1,355, stop loss at 1,338 and target of 1,390/1,400.
