FxWirePro: South Korean won falls noticeably against euro in early Asia, sustained close above 1,324 requires for upside rally
EUR/KRW is currently trading around 1,312 mark. It made intraday high at 1,319 and low at 1,307 levels. Intraday bias remains bullish till the time pair holds key support at 1,298 mark. A sustained close above 1,307 will…
It made intraday high at 1,319 and low at 1,307 levels.
Intraday bias remains bullish till the time pair holds key support at 1,298 mark.
A sustained close above 1,307 will take the parity higher towards key resistances around 1,324, 1,332, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,307 will drag the parity down towards key supports around 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 2.90 pct lower at 2,100.12 points.
We prefer to take long position on EUR/KRW around 1,315, stop loss at 1,302 and target of 1,324/1,347.
