FxWirePro: South Korean won marginally higher on robust consumer sentiment index
EUR/KRW is currently trading around 1,207 mark. Pair made intraday high at 1,208 and low at 1,206 levels. Intraday bias remains neutral for the moment. A daily close below 1,207 will drag the parity down towards key supp…
Pair made intraday high at 1,208 and low at 1,206 levels.
Intraday bias remains neutral for the moment.
A daily close below 1,207 will drag the parity down towards key supports around 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.
Alternatively, a sustained close above 1,207 will take the parity higher towards key resistances around 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
Seoul shares open down 0.06 pct at 2171.36.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s March consumer sentiment index increases to 96.7 vs previous 94.4.
We prefer to take short position in EUR/KRW only below 1,207, stop loss at 1,215 and target of 1,191.
