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FxWirePro: South Korean won remains almost unchanged after export – import price index data

EUR/KRW is currently trading around 1,308 mark. It made intraday high at 1,311 and low at 1,308 levels. Intraday bias remains neutral till the time pair holds key support at 1,302 mark. A sustained close above 1,323 will…

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FxWirePro: South Korean won remains almost unchanged after export – import price index data
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  • EUR/KRW is currently trading around 1,308 mark.
     
  • It made intraday high at 1,311 and low at 1,308 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1,302 mark.
     
  • A sustained close above 1,323 will take the parity higher towards key resistances around 1,327, 1,347 and 1,363 marks respectively.
     
  • On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,290, 1,274, 1,265 and 1,244 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 1.31 point higher at 2,166.13.
     
  • South Korea’s export price index stands at -6.2 pct vs -7.4 pct previous release.
     
  • South Korea’s import price index stands at -2.1 pct vs -6.0 pct previous release.

We prefer to take short position on EUR/KRW only below 1,302, stop loss at 1,318 and target of 1,290/1,274.

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