FxWirePro: South Korean won trades marginally higher in early Asia, faces immediate support at 1,278 mark
EUR/KRW is currently trading around 1,281 mark. It made intraday high at 1,283 and low at 1,281 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,289 mark. A sustained close above 1,285 w…
It made intraday high at 1,283 and low at 1,281 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,289 mark.
A sustained close above 1,285 will take the parity higher towards key resistances around 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,281 will drag the parity down towards key supports around 1,272, 1,265, 1,257, 1,246 and 1,234 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 down 1.29 pct.
We prefer to take short position on EUR/KRW only below 1,278, stop loss 1,289 and target of 1,272/1,265.
