FxWirePro: South Korean won trades almost flat against euro after South Korea’s CPI, core CPI data
EUR/KRW is currently trading around 1,305 mark. Pair made intraday high at 1,306 and low at 1,304 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,311 marks. A sustained close above 1,30…
Pair made intraday high at 1,306 and low at 1,304 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,311 marks.
A sustained close above 1,305 will take the parity higher towards key resistances around 1,311, 1,338, 1,351 and 1,377 marks respectively.
On the other side, a daily close below 1,305 will drag the parity down towards key supports around 1,292, 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.03 pct.
South Korea June CPI growth m/m decrease to -0.1 % (forecast 0.00 %) vs previous 0.1 %.
South Korea June CPI growth y/y decrease to 1.9 % (forecast 2.00 %) vs previous 2.0 %.
South Korea June core CPI +1.4 pct vs year earlier.
We prefer to take long position in EUR/KRW only above 1,310, stop loss at 1,292 and target of 1,338.
