FxWirePro: South Korean won falls in early Asia despite robust current account data, hits lowest level since February 2016
EUR/KRW is currently trading around 1,369 mark. It made intraday high at 1,369 and low at 1,363 levels. Intraday bias remains bullish for the moment. A sustained close above 1,363 will take the parity higher towards key …
It made intraday high at 1,369 and low at 1,363 levels.
Intraday bias remains bullish for the moment.
A sustained close above 1,363 will take the parity higher towards key resistances around 1,377, 1,392 and 1,434 marks respectively.
On the other side, a daily close below 1,363 will drag the parity down towards key supports around 1,338, 1,311, 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.
South Korea June current account at 6.38B vs 4.81B previous release.
South Korea’s Kospi was trading 1.73 pct lower at 1,913.23 points.
We prefer to take long position on EUR/KRW around 1,360, stop loss 1,340 and target of 1,392/1,400/1,434.
