FxWirePro: South Korean won starts a new week on lower note, faces strong resistance at 1,374 mark
EUR/KRW is currently trading around 1,351 mark. It made intraday high at 1,356 and low at 1,335 levels. Intraday bias remains bullish till the time pair holds key support at 1,336 mark. A sustained close above 1,351 will…
It made intraday high at 1,356 and low at 1,335 levels.
Intraday bias remains bullish till the time pair holds key support at 1,336 mark.
A sustained close above 1,351 will take the parity lower towards key resistances around 1,374, 1,390, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,336 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.02 pct higher at 1,771.96 points.
We prefer to take long position on EUR/KRW around 1,350, stop loss at 1,336 and target of 1,374/1,390/1,400.
