FxWirePro: South Korean won trades almost flat after BOK’s interest rate decision
EUR/KRW is currently trading around 1,297 mark. It made intraday high at 1,297 and low at 1,296 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,302 mark. A sustained close above 1,302 w…
It made intraday high at 1,297 and low at 1,296 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,302 mark.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,274, 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 0.72 point lower at 2,103.20.
South Korea’s Nov interest rate stands at 1.25 vs 1.25 previous release.
South Korea’s industrial production stands at -2.5 vs 0.4 previous release (expected -1.8).
South Korea’s retail sale stands at -0.5 vs -2.2 previous release.
We prefer to take long position on EUR/KRW only above 1,304, stop loss at 1,292 and target of 1,319.
