FxWirePro: South Korean won remains almost unchanged after BOK’s interest rate decision
EUR/KRW is currently trading around 1,272 mark. It made intraday high at 1,272 and low at 1,270 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,265 mark. A sustained close above 1…
It made intraday high at 1,272 and low at 1,270 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,265 mark.
A sustained close above 1,273 will take the parity higher towards key resistances around 1,278, 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open down 0.14 pct.
Korea, South March 2019 BOK base rate stays flat at 1.75 % (forecast 1.75 %) vs previous 1.75 %.
We prefer to go long on EURKRW around 1,270, stop loss at 1,265 and target of 1,278/1,288.
