FxWirePro: South Korean won trades almost flat against euro after PPI growth data
EUR/KRW is currently trading around 1,320 mark. Pair made intraday high at 1,322 and low at 1,320 levels. Intraday bias remains neutral till the time pair holds immediate resistance at 1,324 mark. A sustained close above…
Pair made intraday high at 1,322 and low at 1,320 levels.
Intraday bias remains neutral till the time pair holds immediate resistance at 1,324 mark.
A sustained close above 1,321 will take the parity higher towards key resistances around 1,332, 1,338, 1,356, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,312, 1,308, 1,290, 1,273 and 1,264 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Korea, South Feb PPI growth decrease to 0.4 % vs previous 0.5 % (revised from 0.4 %).
Korea, South Feb PPI growth y/y increase to 1.3 % vs previous 1.2 %.
Seoul shares open down 0.74 pct.
We prefer to take long position on EUR/KRW only above 1,322, stop loss at 1,312 and target of 1,338/1,356.
