FxWirePro: South Korean won trades marginally lower despite robust current account data
EUR/KRW is currently trading around 1,301 mark. Pair made intraday high at 1,302 and low at 1,300 levels. Intraday bias remains slightly bullish for the moment. A sustained close above 1,300 will take the parity higher t…
Pair made intraday high at 1,302 and low at 1,300 levels.
Intraday bias remains slightly bullish for the moment.
A sustained close above 1,300 will take the parity higher towards key resistances around 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,291, 1,282, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open down 0.13 pct.
Korea, South July 2018 current account balance sa increase to 8.76 usd vs previous 7.38 usd (revised from 7.38 usd).
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,292 and target of 1,315.
