FxWirePro: South Korean won rises in early Asia after unemployment rate data
EUR/KRW is currently trading around 1,3221 mark. It made intraday high at 1,324 and low at 1,321 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,324 mark. A sustained close abo…
It made intraday high at 1,324 and low at 1,321 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,324 mark.
A sustained close above 1,324 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 1,324 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 0.56 pct higher at 2,063.55 points.
South Korea’s June unemployment rate at 4.0 pct vs 4.0 pct previous release (expected 3.9 pct).
We prefer to take long position on EUR/KRW only above 1,324, stop loss 1,315 and target of 1,340/1,358.
