FxWirePro: South Korean won trades marginally lower as consumer sentiment index misses expectations
EUR/KRW is currently trading around 1,319 mark. Pair made intraday high at 1,321 and low at 1,316 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,324 mark. A sustained close above 1,318…
Pair made intraday high at 1,321 and low at 1,316 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,324 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,327, 1,338, 1,347 and 1,355 marks respectively.
On the other side, a daily close below 1,318 will drag the parity down towards key supports around 1,308, 1,302, 1,288, 1,272, 1,264, 1,248 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 down 0.06 pct.
Korea, South Jan consumer sentiment index decrease to 109.9 vs previous 110.6 (revised from 111 ).
We prefer to take long position on EUR/KRW around 1,313, stop loss at 1,307 and target of 1,327/1,338.
