FxWirePro: South Korean won trades marginally lower after unemployment rate data
EUR/KRW is currently trading around 1,322 mark. It made intraday high at 1,322 and low at 1,319 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,310 mark. A sustained close above 1…
It made intraday high at 1,322 and low at 1,319 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,310 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,310 will drag the parity down towards key supports around 1,302, 1,290, 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.09 point lower at 2,096.17.
South Korea’s unemployment rate stands at 3.6 pct vs 3.5 pct previous release (expected 3.6 pct).
We prefer to take long position on EUR/KRW around 1,320, stop loss at 1,310 and target of 1,327/1,347.
