FxWirePro: South Korean won falls drastically against euro, hits lowest level since June 12
EUR/KRW is currently trading around 1,338 mark. It made intraday high at 1,338 and low at 1,336 levels. Intraday bias remains bullish for the moment. A sustained close above 1,340 will take the parity higher towards key …
It made intraday high at 1,338 and low at 1,336 levels.
Intraday bias remains bullish for the moment.
A sustained close above 1,340 will take the parity higher towards key resistances around 1,358, 1,363, 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 1,311, 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 1.37 pct lower at 1,970.23 points.
South Korea July Forex reserves -USD stood at 403.11B vs 403.07B.
We prefer to take long position on EUR/KRW only above 1,340, stop loss 1,328 and target of 1,363/1,377.
