FxWirePro: South Korean won trades marginally lower as CPI data misses expectations
EUR/KRW is currently trading around 1,311 mark. It made intraday high at 1,311 and low at 1,308 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark. A sustained close above 1…
It made intraday high at 1,311 and low at 1,308 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,308 will drag the parity down towards key supports around 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.
Korea, South June 2019 CPI nsa decrease to 104.88 vs previous 105.05.
Korea, South June 2019 CPI growth yy stays flat at 0.7 % (forecast 1 %) vs previous 0.7 %.
Korea, South June 2019 CPI growth mm decrease to -0.2 % (forecast 0.1 %) vs previous 0.2 %.
Seoul shares open down 0.36 pct.
We prefer to take short position on EUR/KRW only below 1,308, stop loss 1,320 and target of 1,294/1,287.
