FxWirePro: South Korean won trades marginally higher on robust export – import price index data
EUR/KRW is currently trading around 1,316 mark. Pair made intraday high at 1,318 and low at 1,316 levels. Intraday bias remain neutral till the time pair holds key support at 1,315 mark. A sustained close above 1,317 wil…
Pair made intraday high at 1,318 and low at 1,316 levels.
Intraday bias remain neutral till the time pair holds key support at 1,315 mark.
A sustained close above 1,317 will take the parity higher towards key resistances around 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,313 will drag the parity down towards key supports around 1,305, 1,298, 1,291, 1,273, 1,264, 1,242 and 1,222 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 0.27 pct.
Korea, South March import price growth y/y increase to 3.1 % vs previous 0.4 % (revised from 0.4 %).
Korea, South March export price growth yy increase to -0.9 % vs previous -1.3 % (revised from -1.3 %).
We prefer to take short position on EUR/KRW only below 1,315, stop loss at 1,325 and target of 1,308/1,298.
