FxWirePro: South Korean won falls noticeably against euro; hovers around lowest level since August 29, 2019
EUR/KRW is currently trading around 1,337 mark. It made intraday high at 1,337 and low at 1,334 levels. Intraday bias remains bullish till the time pair holds key support at 1,315 mark. A sustained close above 1,334 will…
It made intraday high at 1,337 and low at 1,334 levels.
Intraday bias remains bullish till the time pair holds key support at 1,315 mark.
A sustained close above 1,334 will take the parity higher towards key resistances around 1,347, 1,363 and 1,390 marks respectively.
On the other side, a daily close below 1,318 will drag the parity down towards key supports around 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 2.01 pct lower at 2,043.33 points.
We prefer to take long position on EUR/KRW around 1,330, stop loss at 1,315 and target of 1,347/1,363.
