FxWirePro: South Korean won remains almost unchanged after CPI, manufacturing PMI data
EUR/KRW is currently trading around 1,342 mark. It made intraday high at 1,345 and low at 1,342 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,343 mark. A sustained close above 1,343 w…
It made intraday high at 1,345 and low at 1,342 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,343 mark.
A sustained close above 1,343 will take the parity higher towards key resistances around 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,343 will drag the parity down towards key supports around 1,336, 1,322, 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
South Korea’s CPI y/y stands at 0.1 vs 1.0 previous release (expected 0.4).
South Korea’s manufacturing PMI stands at 41.6 vs 44.2 previous release.
South Korea’s kospi was trading 1.90 pct lower to 1,910.15 points.
We prefer to take long position on EUR/KRW only above 1,345, stop loss at 1,336 and target of 1,357/1,377.
