FxWirePro: South Korean won falls surprisingly against euro, hits lowest level since September 2017
EUR/KRW is currently trading around 1,356 mark. Pair made intraday high at 1,358 and low at 1,352 levels. Intraday bias remains bullish till the time pair holds key support at 1,337 mark. A sustained close above 1,356 wi…
Pair made intraday high at 1,358 and low at 1,352 levels.
Intraday bias remains bullish till the time pair holds key support at 1,337 mark.
A sustained close above 1,356 will take the parity higher towards key resistances around 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,355 will drag the parity down towards key supports around 1,338, 1,325, 1,308, 1,302, 1,288, 1,272 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 down 1.51 pct.
Korea, South Dec current account balance decrease to 4.66 bln us vs previous 5.67 bln us.
We prefer to take long position on EUR/KRW around 1,348, stop loss at 1,335 and target of 1,377.
