FxWirePro: South Korean won falls in early Asia as manufacturing BSI index misses expectations
EUR/KRW is currently trading around 1,313 mark. Pair made intraday high at 1,314 and low at 1,307 levels. Intraday bias remains slightly bullish till the time pair holds immediate support at 1,307 mark. A sustained close…
Pair made intraday high at 1,314 and low at 1,307 levels.
Intraday bias remains slightly bullish till the time pair holds immediate support at 1,307 mark.
A sustained close above 1,307 will take the parity higher towards key resistances around 1,315, 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,307 will drag the parity down towards key supports around 1,307, 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 0.10 pct.
Korea, South April BOK manufacturing BSI index decrease to 76 vs previous 79.
We prefer to take long position on EUR/KRW only above 1,315, stop loss at 1,307 and target of 1,324/1,332/1,340.
