FxWirePro: South Korean won trades marginally lower as current account data misses expectations
EUR/KRW is currently trading around 1,325 mark. It made intraday high at 1,327 and low at 1,323 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,321 mark. A sustained close above 1…
It made intraday high at 1,327 and low at 1,323 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,321 mark.
A sustained close above 1,330 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,317, 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.
Seoul shares open up 0.83 pct.
Korea, South April 2019 current account balance nsa decrease to -0.66 usd vs previous 4.82 usd.
South Korea current account highly likely to return to surplus in May.
South Korea sets first monthly current account deficit since April 2012.
We prefer to take short position on EUR/KRW only below 1,321, stop loss 1,332 and target of 1,302.
