FxWirePro: South Korean won falls gradually against euro, touches 1,314 mark in early Asia
EUR/KRW is currently trading around 1,312 mark. It made intraday high at 1,314 and low at 1,311 levels. Intraday bias remains bullish till the time pair holds key support at 1,302 mark. A sustained close above 1,311 will…
It made intraday high at 1,314 and low at 1,311 levels.
Intraday bias remains bullish till the time pair holds key support at 1,302 mark.
A sustained close above 1,311 will take the parity higher towards key resistances around 1,315, 1,322 and 1,340 marks respectively.
On the other side, a daily close below 1,311 will drag the parity down towards key supports around 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.
Seoul shares open down 0.38 pct.
We prefer to take long position on EUR/KRW around 1,311, stop loss 1,302 and target of 1,322/1,327.
