FxWirePro: South Korean won trades marginally lower as manufacturing BSI index data misses expectationstec
EUR/KRW is currently trading around 1,324 mark. It made intraday high at 1,324 and low at 1,321 levels. Intraday bias remains bullish till the time pair holds key support at 1,310 mark. A sustained close above 1,322 will…
It made intraday high at 1,324 and low at 1,321 levels.
Intraday bias remains bullish till the time pair holds key support at 1,310 mark.
A sustained close above 1,322 will take the parity higher towards key resistances around 1,332, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,322 will drag the parity down towards key supports around 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 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 manufacturing BSI stands at 66 vs 79 previous release.
South Korea’s kospi was trading 1.67 pct lower at 2,068.24 points.
We prefer to take long position on EUR/KRW around 1,320, stop loss at 1,310 and target of 1,347.
