FxWirePro: South Korean won trades flat as Nikkei manufacturing PMI data misses expectations
EUR/KRW is currently trading around 1,324 mark. It made intraday high at 1,325 and low at 1,323 levels. Intraday bias remains neutral till the time pair holds immediate resistance at 1,324 mark. A sustained close above 1…
It made intraday high at 1,325 and low at 1,323 levels.
Intraday bias remains neutral till the time pair holds immediate resistance at 1,324 mark.
A sustained close above 1,324 will take the parity higher towards key resistances around 1,334, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,324 will drag the parity down towards key supports around 1,310, 1,290, 1,282, 1,274, 1,265 and 1,244 marks respectively.
Important to note here that 20D, 30D and 55D EMA up down and confirms the bullish trend in a daily chart.
South Korea’s manufacturing PMI stands at 49.8 vs 50.1 previous release.
South Korea’s kospi was trading 0.33 pct lower at 2,111.98 points.
We prefer to take long position on EUR/KRW only above 1,325, stop loss at 1,310 and target of 1,347/1,363.
