FxWirePro: South Korean won trades marginally lower despite higher than expected consumer sentiment index
EUR/KRW is currently trading around 1,267 mark. Pair made intraday high at 1,268 and low at 1,265 levels. Intraday bias remains neutral till the time pair holds key support at 1,265 marks. A sustained close above 1,272 w…
Pair made intraday high at 1,268 and low at 1,265 levels.
Intraday bias remains neutral till the time pair holds key support at 1,265 marks.
A sustained close above 1,272 will take the parity higher towards key resistances around 1,287 and 1,304 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,255, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
South Korea June consumer sentiment index increase to 111.1 vs previous 108.0.
Seoul shares open down 0.08 pct at 2386.76.
We prefer to take short position in EUR/KRW only below 1,265, stop loss at 1,277 and target of 1,248.
