FxWirePro: South Korean won falls in early Asia as consumer sentiment index fails to meet expectations
EUR/KRW is currently trading around 1,346 mark. Pair made intraday high at 1,347 and low at 1,342 levels. Intraday bias remains bullish till the time pair holds key support at 1,342 mark. A sustained close above 1,342 wi…
Pair made intraday high at 1,347 and low at 1,342 levels.
Intraday bias remains bullish till the time pair holds key support at 1,342 mark.
A sustained close above 1,342 will take the parity higher towards key resistances around 1,349, 1,355, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,342 will drag the parity down towards key supports around 1,334, 1,326, 1,320, 1,313 and 1,302 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 September consumer sentiment index decrease to 107.7 vs previous 109.9.
Seoul shares open down 0.37 pct.
We prefer to take long position on EUR/KRW around 1,345, stop loss at 1,340 and target of 1,355/1,363.
