FxWirePro: South Korean won remains almost unchanged despite lower than expected current account data
EUR/KRW is currently trading around 1,313 mark. It made intraday high at 1,313 and low at 1,312 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,319 mark. A sustained close above 1,319 w…
It made intraday high at 1,313 and low at 1,312 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,319 mark.
A sustained close above 1,319 will take the parity higher towards key resistances around 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278 and 1,268 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 current account stands at 5.27B vs 6.95B previous release.
South Korea’s kospi was trading 0.72 pct higher at 2,036.47 points.
We prefer to take short position on EUR/KRW around 1,315, stop loss 1,322 and target of 1,302.
