FxWirePro: South Korean won trades marginally lower after export – import price index data
EUR/KRW is currently trading around 1,352 mark. It made intraday high at 1,352 and low at 1,346 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,346 mark. A sustained close above 1…
It made intraday high at 1,352 and low at 1,346 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,346 mark.
A sustained close above 1,373 will take the parity higher towards key resistances around 1,392, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,347 will drag the parity down towards key supports around 1,336, 1,311, 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.
South Korea’s Kospi was trading 1.13 pct higher at 1,947.17 points.
South Korea export price index y/y at -5.3 pct vs -2.7 pct previous release.
South Korea import price index y/y at -1.3 pct vs -0.6 pct previous release.
South Korea unemployment rate at 4.0 pct vs 4.0 pct previous release.
We prefer to take short position on EUR/KRW around 1,354, stop loss 1,362 and target of 1,336.
