FxWirePro: South Korean won remains volatile in early hours of Asia after BOK’s interest rate decision
EUR/KRW is currently trading around 1,322 mark. It made intraday high at 1,328 and low at 1,322 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,330 mark. A sustained close above 1,328 w…
It made intraday high at 1,328 and low at 1,322 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,330 mark.
A sustained close above 1,328 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 1,319 will drag the parity down towards key supports around 1,308, 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 0.33 pct lower at 2,066.48 points.
BOK reduces interest rate to 1.5 pct vs 1.75 pct previous release.
We prefer to take long position on EUR/KRW only above 1,330, stop loss 1,317 and target of 1,358/1,363.
