FxWirePro: South Korean won trades marginally lower as manufacturing BSI data misses expectations
EUR/KRW is currently trading around 1,329 mark. It made intraday high at 1,330 and low at 1,324 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,330 mark. A sustained close above 1…
It made intraday high at 1,330 and low at 1,324 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,330 mark.
A sustained close above 1,324 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 1,324 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.
Korea, South June 2019 BOK manufacturing BSI decrease to 72 balance vs previous 73 balance.
Seoul shares open down 0.10 pct.
We prefer to take long position on EUR/KRW only above 1,330, stop loss 1,320 and target of 1,358.
