FxWirePro: South Korean won remains almost unchanged after GDP, CPI data
EUR/KRW is currently trading around 1,329 mark. It made intraday high at 1,330 and low at 1,329 levels. Intraday bias remains neutral till the time pair holds key support at 1,328 mark. A sustained close above 1,342 will…
It made intraday high at 1,330 and low at 1,329 levels.
Intraday bias remains neutral till the time pair holds key support at 1,328 mark.
A sustained close above 1,342 will take the parity higher towards key resistances around 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,328 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 0.17 pct higher at 1,972.23 point.
South Korea CPI Aug m/m at 0.2 pct vs -0.3 pct previous release (expected 0.5).
South Korea GDP q/q 1.0 pct vs -0.4 pct previous release.
We prefer to take short position on EUR/KRW only below 1,328, stop loss 1,340 and target of 1,311.
