FxWirePro: South Korean won trades marginally lower against euro after BOK’s base rate decision
EUR/KRW is currently trading around 1,334 mark. Pair made intraday high at 1,335 and low at 1,333 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,327 mark. A sustained close above…
Pair made intraday high at 1,335 and low at 1,333 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,327 mark.
A sustained close above 1,333 will take the parity higher towards key resistances around 1,340, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,333 will drag the parity down towards key supports around 1,327, 1,320, 1,313 and 1,302 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 up 0.11 pct.
South Korea Oct BOK base rate stays flat at 1.25 % vs previous 1.25 %.
We prefer to take short position on EUR/KRW only below 1,327, stop loss at 1,340 and target of 1,320/1,313.
