FxWirePro: South Korean won falls in early Asia after manufacturing BSI index data
EUR/KRW is currently trading around 1,296 mark. It made intraday high at 1,297 and low at 1,293 levels. Intraday bias remains bullish till the time pair holds key support at 1,290 mark. A sustained close above 1,302 will…
It made intraday high at 1,297 and low at 1,293 levels.
Intraday bias remains bullish till the time pair holds key support at 1,290 mark.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.14 point lower at 2,124.10.
South Korea’s manufacturing BSI index stands at 74.0 vs 74.0 previous release.
We prefer to take long position on EUR/KRW around 1,295, stop loss at 1,288 and target of 1,304/1,319.
