FxWirePro: South Korean won trades marginally higher on robust manufacturing BSI index
EUR/KRW is currently trading around 1,303 mark. Pair made intraday high at 1,307 and low at 1,303 levels. Intraday bias remains neutral till the time pair holds key support at 1,303 mark. A sustained close above 1,304 wi…
Pair made intraday high at 1,307 and low at 1,303 levels.
Intraday bias remains neutral till the time pair holds key support at 1,303 mark.
A sustained close above 1,304 will take the parity higher towards key resistances around 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 1,304 will drag the parity down towards key supports around 1,292, 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 down 0.07 pct.
South Korea Nov BOK manufacturing BSI increase to 87 vs previous 79.
South Korea Sep industrial output y/y increase to 8.4 % (forecast 4.7 %) vs previous 2.3 % (revised from 2.7 %).
South Korea Sep service sector output growth increase to 1.3 % vs previous 0.1 %.
We prefer to take short position on EUR/KRW only below 1,303, stop loss at 1,318 and target of 1,253.
