FxWirePro: South Korean won remains almost unchanged after export – import price index data
EUR/KRW is currently trading around 1,287 mark. It made intraday high at 1,288 and low at 1,286 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,288 mark. A sustained close above 1,288 w…
It made intraday high at 1,288 and low at 1,286 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,288 mark.
A sustained close above 1,288 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,265, 1,244, 1,212 and 1,200 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 0.25 point higher at 2,127.80.
South Korea’s export price index data stands at -7.3 pct vs -5.0 pct previous release.
South Korea’s import price index data stands at -5.7 pct vs -2.2 pct previous release.
We prefer to take long position on EUR/KRW only above 1,290, stop loss at 1,278 and target of 1,302/1,319.
