FxWirePro: South Korean won trades marginally lower as consumer confidence data misses expectations
EUR/KRW is currently trading around 1,325 mark. It made intraday high at 1,325 and low at 1,322 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,322 mark. A sustained close above 1…
It made intraday high at 1,325 and low at 1,322 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,322 mark.
A sustained close above 1,336 will take the parity higher towards key resistances around 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,319 will drag the parity down towards key supports around 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.20 pct lower at 1,918.72 points.
South Korea’s consumer confidence data stands 70.8 vs 78.4 previous release.
We prefer to take short position on EUR/KRW only below 1,322, stop loss at 1,332 and target of 1,307/1,298.
