FxWirePro: South Korean won trades marginally lower as CPI data misses expectations
EUR/KRW is currently trading around 1,271 mark. It made intraday high at 1,271 and low at 1,269 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,265 mark. A sustained close above 1…
It made intraday high at 1,271 and low at 1,269 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,265 mark.
A sustained close above 1,269 will take the parity higher towards key resistances around 1,278, 1,282, 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,269 will drag the parity down towards key supports around 1,265, 1,257, 1,246 and 1,234 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 0.41 pct.
Korea, South March 2019 CPI growth mm decrease to -0.2 % (forecast 0.35 %) vs previous 0.4 %.
Korea, South March 2019 CPI growth yy decrease to 0.4 % (forecast 0.9 %) vs previous 0.5 %.
Korea, South March 2019 CPI nsa decrease to 104.49 vs previous 104.69.
We prefer to take short position on EUR/KRW around 1,274, stop loss 1,282 and target of 1,265/1,257.
