FxWirePro: South Korean won remains almost unchanged after PPI data
EUR/KRW is currently trading around 1,340 mark. It made intraday high at 1,340 and low at 1,338 levels. Intraday bias remains bullish till the time pair holds key support at 1,337 mark. A sustained close above 1,342 will…
It made intraday high at 1,340 and low at 1,338 levels.
Intraday bias remains bullish till the time pair holds key support at 1,337 mark.
A sustained close above 1,342 will take the parity higher towards key resistances around 1,357, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,337 will drag the parity down towards key supports around 1,328, 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 0.01 pct higher at 1,960.44 point.
South Korea’s PPI July m/m at 0.0 pct vs -0.3 pct previous release.
South Korea’s PPI July y/y at -0.3 vs 0.1 pct prevvious release.
We prefer to take short position on EUR/KRWonly below 1,336, stop loss 1,345 and target of 1,328/1,311.
