FxWirePro: South Korean won remains almost unchanged after BOK’s interest rate decision
EUR/KRW is currently trading around 1,318 mark. It made intraday high at 1,319 and low at 1,318 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,322 mark. A sustained close above 1,322 w…
It made intraday high at 1,319 and low at 1,318 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,322 mark.
A sustained close above 1,322 will take the parity higher towards key resistances around 1,337, 1,358, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,318 will drag the parity down towards key supports around 1,307, 1,298, 1,274 and 1,265 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 1.01 pct higher at 1,825.31 points.
BOK keeps interest rate unchanged at 0.75 pct.
We prefer to take short position on EUR/KRW around 1,319, stop loss at 1,328 and target of 1,307/1,298.
