FxWirePro: South Korean won remains almost unchanged despite robust current account data
EUR/KRW is currently trading around 1,317 mark. It made intraday high at 1,320 and low at 1,317 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark. A sustained close above 1…
It made intraday high at 1,320 and low at 1,317 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,308 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 0.23 pct higher at 2,100.25 points.
South Korea May current account at 4.95B vs -0.66B previous release.
We prefer to take long position on EUR/KRW around 1,317, stop loss 1,308 and target of 1,340/1,358.
