FxWirePro: South Korean won remains almost unchanged despite robust consumer confidence data
EUR/KRW is currently trading around 1,312 mark. It made intraday high at 1,313 and low at 1,311 levels. Intraday bias remains neutral till the time pair holds key support at 1,309 mark. A sustained close above 1,317 will…
It made intraday high at 1,313 and low at 1,311 levels.
Intraday bias remains neutral till the time pair holds key support at 1,309 mark.
A sustained close above 1,317 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 1,309 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 down and confirms the bearish trend in a daily chart.
South Korea Sept consumer confidence stands at 96.9 pct vs 92.5 pct previous release (expected 90.0 pct).
South Korea’s kospi was trading 0.60 pct higher at 2,085.28 points.
We prefer to take short position on EUR/KRW only below 1,309, stop loss 1,320 and target of 1,287.
