FxWirePro: South Korean won falls gradually against euro, sustained close above 1,336 requires for upside rally
EUR/KRW is currently trading around 1,337 mark. Pair made intraday high at 1,337 and low at 1,336 levels. Intraday bias remains slightly bullish till the time pair holds immediate support at 1,330 mark. A sustained close…
Pair made intraday high at 1,337 and low at 1,336 levels.
Intraday bias remains slightly bullish till the time pair holds immediate support at 1,330 mark.
A sustained close above 1,336 will take the parity higher towards key resistances around 1,342, 1,356, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,336 will drag the parity down towards key supports around 1,330, 1,322, 1,308, 1,299, 1,290, 1,273 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.
Seoul shares open up 0.74 pct.
Korea, South March consumer sentiment index increase to 108.1 vs previous 108.
We prefer to take long position on EUR/KRW around 1,336, stop loss at 1,327 and target of 1,342/1,356.
