FxWirePro: South Korean won remains almost unchanged after export – import price index data
EUR/KRW is currently trading around 1,280 mark. It made intraday high at 1,283 and low at 1,280 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,291 mark. A sustained close abov…
It made intraday high at 1,283 and low at 1,280 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,291 mark.
A sustained close above 1,281 will take the parity higher towards key resistances around 1,290, 1,302, 1,324, 1,332, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,281 will drag the parity down towards key supports around 1,274, 1,265 and 1,244 marks respectively.
Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
South Korea’s kospi was trading 0.30 pct higher at 2,239.40 points.
South Korea’s export price index y/y stands at -2.7 pct vs -3.1 pct previous release (expected -1.5).
South Korea’s import price index y/y stands at 2.7 pct vs 3.4 pct previous release (expected 2.6).
We prefer to take short position on EUR/KRW around 1,282, stop loss at 1,290 and target of 1,274/1,265.
