FxWirePro: South Korean won trades marginally lower as export – import price index data miss expectations
EUR/KRW is currently trading around 1,323 mark. It made intraday high at 1,323 and low at 1,319 levels. Intraday bias remains bullish till the time pair holds key support at 1,317 mark. A sustained close above 1,324 will…
It made intraday high at 1,323 and low at 1,319 levels.
Intraday bias remains bullish till the time pair holds key support at 1,317 mark.
A sustained close above 1,324 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 1,317 will drag the parity down towards key supports around 1,308, 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.
South Korea’s Kospi was trading 0.23 pct higher at 2,085.43 points.
South Korea’s export price index data at -2.5 pct vs 0.4 pct previous release.
South Korea’s import price index data at -0.4 pct vs 4.6 pct previous release.
We prefer to take long position on EUR/KRW around 1,323, stop loss 1,317 and target of 1,340/1,358.
