FxWirePro: South Korean won trades marginally higher on robust current account data
EUR/KRW is currently trading around 1,294 mark. Pair made intraday high at 1,296 and low at 1,293 levels. Intraday bias remains neutral till the time pair holds key support at 1,288 mark. A sustained close above 1,294 wi…
Pair made intraday high at 1,296 and low at 1,293 levels.
Intraday bias remains neutral till the time pair holds key support at 1,288 mark.
A sustained close above 1,294 will take the parity higher towards key resistances around 1,301, 1,307, 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,288, 1,279, 1,268 and 1,253 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 up 0.47 pct.
South Korea Sep current account balance increase to 10.07 bln usd vs previous 6.27 bln usd.
We prefer to take short position on EUR/KRW only below 1,288, stop loss at 1,301 and target of 1,253.
