FxWirePro: South Korean won strengthens noticeably against euro, hits highest level since April 2019
EUR/KRW is currently trading around 1,275 mark. It made intraday high at 1,276 and low at 1,275 levels. Intraday bias remains neutral till the time pair holds key support at 1,274 mark. A sustained close above 1,274 will…
It made intraday high at 1,276 and low at 1,275 levels.
Intraday bias remains neutral till the time pair holds key support at 1,274 mark.
A sustained close above 1,274 will take the parity higher towards key resistances around 1,283, 1,294, 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.02 point lower at 2,142.97.
We prefer to take short position on EUR/KRW only below 1,274, stop loss at 1,285 and target of 1,244.
