FxWirePro: South Korean won trades marginally higher against euro despite lower than expected consumer confidence data
EUR/KRW is currently trading around 1,273 mark. Pair made intraday high at 1,274 and low at 1,272 levels. Intraday bias remains neutral for the moment. A sustained close above 1,273 will take the parity higher towards ke…
Pair made intraday high at 1,274 and low at 1,272 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,273 will take the parity higher towards key resistances around 1,280, 1,296, 1,302, 1,313, 1,327, 1,338, 1,347 and 1,355 marks respectively.
On the other side, a daily close below 1,273 will drag the parity down towards key supports around 1,264, 1,253 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open down 0.27 pct.
Korea, South Dec consumer sentiment index decreases to 110.9 vs previous 112.
We prefer to take short position on EUR/KRW around 1,275, stop loss at 1,282 and target of 1,264/1,253.
