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FxWirePro: South Korean won strengthens in early Asia on robust consumer sentiment index

EUR/KRW is currently trading around 1,313 mark. Pair made intraday high at 1,314 and low at 1,311 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,327 mark. A sustained close above 1,313…

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FxWirePro: South Korean won strengthens in early Asia on robust consumer sentiment index
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  • EUR/KRW is currently trading around 1,313 mark.
     
  • Pair made intraday high at 1,314 and low at 1,311 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 1,327 mark.
     
  • A sustained close above 1,313 will take the parity higher towards key resistances around 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
     
  • On the other side, a daily close below 1,313 will drag the parity down towards key supports around 1,302, 1,292 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.
     
  • Seoul shares open up 0.19 pct.
     
  • South Korea Oct consumer sentiment index increase to 109.2 vs previous 108.

We prefer to take short position on EUR/KRW only below 1,325, stop loss at 1,338 and target of 1,313.

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