FxWirePro: South Korean won remains almost unchanged after current account data
EUR/KRW is currently trading around 1,327 mark. It made intraday high at 1,331 and low at 1,327 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,337 mark. A sustained close above 1,331 w…
It made intraday high at 1,331 and low at 1,327 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,337 mark.
A sustained close above 1,331 will take the parity higher towards key resistances around 1,342, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,327 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 0.80 pct higher at 2,004.24 point.
South Korea July current account stands at 6.95B vs 6.38B previous release.
We prefer to take short position on EUR/KRW around 1,330, stop loss 1,342 and target of 1,311/1,302.
