FxWirePro: South Korean won marginally lower after BOK’s statements
EUR/KRW is currently trading around 1,196 mark. Pair made intraday high at 1,196 and low at 1,193 levels. Intraday bias remains neutral till the time pair holds key support at 1,193 mark. A daily close below 1,193 will d…
Pair made intraday high at 1,196 and low at 1,193 levels.
Intraday bias remains neutral till the time pair holds key support at 1,193 mark.
A daily close below 1,193 will drag the parity down towards key supports around 1,184, 1,178 and 1,163 marks respectively.
Alternatively, a sustained close above 1,193 will take the parity higher towards key resistances around 1,205, 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
Seoul shares open up 0.15 pct at 2170.18.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea Central bank says Fed rate hikes could hurt South Korea’s economy; impact of gradual hikes would be limited.
South Korea Central bank says monetary policy to be kept accommodative as growth gradual, inflation pressures mild.
South Korea raises ratio of USD reserves to 70.3 pct in 2016 vs 66.6 pct in 2015 - Central bank.
We prefer to take short position in EUR/KRW only below 1,193, stop loss at 1,205 and target of 1,178.
