FxWirePro: South Korean won remains almost unchanged after industrial production, retail sales data
EUR/KRW is currently trading around 1,317 mark. It made intraday high at 1,318 and low at 1,316 levels. Intraday bias remains neutral till the time pair holds key support at 1,310 mark. A sustained close above 1,318 will…
It made intraday high at 1,318 and low at 1,316 levels.
Intraday bias remains neutral till the time pair holds key support at 1,310 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,328, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,310 will drag the parity down towards key supports around 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 0.28 pct lower at 2,032.45 points.
South Korea industrial production m/m at 0.2 pct vs -1.3 pct previous release.
South Korea industrial production y/y at -2.9 pct vs 0.2 pct previous release.
South Korea retail sales at -1.6 pct m/m vs 0.9 pct previous release.
We prefer to take long position on EUR/KRW only above 1,322, stop loss 1,310 and target of 1,340/1,358.
