FxWirePro: South Korean won trades marginally lower despite higher than expected consumer sentiment index
EUR/KRW is currently trading around 1,299 mark. Pair made intraday high at 1,299 and low at 1,295 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,290 mark. A sustained close above…
Pair made intraday high at 1,299 and low at 1,295 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,290 mark.
A sustained close above 1,295 will take the parity higher towards key resistances around 1,305, 1,316, 1,321, 1,338, 1,351 and 1,377 marks respectively.
On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,277, 1,265, 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.
South Korea July consumer sentiment index increase to 111.2 vs previous 111.1.
Seoul shares open down 0.03 pct at 2450.76.
We prefer to take long position in EUR/KRW only above 1,305, stop loss at 1,290 and target of 1,321/1,338.
