FxWirePro: South Korean won trades flat against euro despite higher than expected export, import price growth data
EUR/KRW is currently trading around 1,329 mark. Pair made intraday high at 1,329 and low at 1,328 levels. Intraday bias remains neutral till the time pair holds key support at 1,327 mark. A sustained close above 1,327 wi…
Pair made intraday high at 1,329 and low at 1,328 levels.
Intraday bias remains neutral till the time pair holds key support at 1,327 mark.
A sustained close above 1,327 will take the parity higher towards key resistances around 1,340, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,327 will drag the parity down towards key supports around 1,320, 1,313 and 1,302 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 Sep import price growth y/y increase to 10.7 % vs previous 9.1 % (revised from 9.0 %).
South Korea Sep export price growth y/y increase to 10.9 % vs previous 10.8 % (revised from 10.7 %).
South Korea Sep unemployment rate decrease to 3.7 % vs previous 3.8 %.
Seoul shares open down 0.11 pct.
We prefer to take short position on EUR/KRW only below 1,327, stop loss at 1,340 and target of 1,320/1,313.
