FxWirePro: South Korean won trades flat after CPI, manufacturing PMI data
EUR/KRW is currently trading around 1,313 mark. It made intraday high at 1,315 and low at 1,313 levels. Intraday bias remains neutral till the time pair holds key support at 1,310 mark. A sustained close above 1,318 will…
It made intraday high at 1,315 and low at 1,313 levels.
Intraday bias remains neutral till the time pair holds key support at 1,310 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,328, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,310 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 0.40 pct lower at 2,016.45 points.
South Korea July CPI m/m at -0.3 pct vs -0.2 pct previous release.
South Korea Nikkei manufacturing PMI 47.3 vs 47.5 previous release.
South Korea July Trade balance 0.00B vs 2.4B previous release.
We prefer to take short position on EUR/KRW only below 1,310, stop loss 1,322 and target of 1,287.
