FxWirePro: South Korean won trades flat against euro on the back of lower than expected CPI data
EUR/KRW is currently trading around 1,343 mark. Pair made intraday high at 1,344 and low at 1,340 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,337 mark. A sustained close above…
Pair made intraday high at 1,344 and low at 1,340 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,337 mark.
A sustained close above 1,343 will take the parity higher towards key resistances around 1,349, 1,355, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,343 will drag the parity down towards key supports around 1,337, 1,326, 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.
Seoul shares open up 0.06 pct.
South Korea September CPI growth y/y decrease to 2.1 % vs previous 2.6 %.
South Korea September CPI growth decrease to 0.1 % vs previous 0.6 %.
We prefer to take long position on EUR/KRW only above 1,344, stop loss at 1,337 and target of 1,355.
