FxWirePro: South Korean won remains almost unchanged after current account data
EUR/KRW is currently trading around 1,281 mark. It made intraday high at 1,281 and low at 1,280 levels. Intraday bias remains neutral till the time pair holds key support at 1,280 mark. A sustained close above 1,280 will…
It made intraday high at 1,281 and low at 1,280 levels.
Intraday bias remains neutral till the time pair holds key support at 1,280 mark.
A sustained close above 1,280 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,280 will drag the parity down towards key supports around 1,278, 1,268 and 1,244 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.20 point higher at 2,147.58.
South Korea’s current account stands at 7.48B vs 5.27B previous release (expected 8.45B).
We prefer to take short position on EUR/KRW only below 1,280, stop loss at 1,294 and target of 1,244.
