FxWirePro: South Korean won trades marginally lower despite robust consumer sentiment index data
EUR/KRW is currently trading around 1,269 mark. It made intraday high at 1,270 and low at 1,266 levels. Intraday bias remains neutral till the time pair holds key support at 1,265 mark. A sustained close above 1,265 will…
It made intraday high at 1,270 and low at 1,266 levels.
Intraday bias remains neutral till the time pair holds key support at 1,265 mark.
A sustained close above 1,265 will take the parity higher towards key resistances around 1,278, 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open down 0.10 pct.
Korea, South Feb 2019 consumer sentiment index increase to 99.5 balance vs previous 97.5 balance.
We prefer to go short on EURKRW only below 1,265, stop loss at 1,278 and target of 1,246.
