FxWirePro: South Korean won trades marginally lower after CPI, core CPI data
EUR/KRW is currently trading around 1,328 mark. It made intraday high at 1,328 and low at 1,324 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,321 mark. A sustained close above 1…
It made intraday high at 1,328 and low at 1,324 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,321 mark.
A sustained close above 1,330 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,317, 1,302, 1,294, 1,287, 1,278 and 1,268 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 0.05 pct.
Korea, South May 2019 CPI growth mm decreases to 0.2 % (forecast 0.3 %) vs previous 0.4 %.
Korea, South Q1 2019 GDP growth q/q revised decreases to -0.4 % vs previous -0.3 %.
Korea, South May 2019 CPI NSA increases to 105.05 vs previous 104.87.
South Korea May core CPI +0.6 pct yr/yr vs +0.7 pct in April.
We prefer to take long position on EUR/KRW only above 1,330, stop loss 1,320 and target of 1,358.
