FxWirePro: South Korean won trades slightly lower as current account data misses expectations
EUR/KRW is currently trading around 1,266 mark. It made intraday high at 1,266 and low at 1,262 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,257 mark. A sustained close above 1…
It made intraday high at 1,266 and low at 1,262 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,257 mark.
A sustained close above 1,262 will take the parity higher towards key resistances around 1,272, 1,277, 1,282, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,257 will drag the parity down towards key supports around 1,246, 1,234, 1,218 and 1,206 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.92 pct lower at 2,081 points.
Korea, South Oct 2018 current account balance NSA decrease to 9.19 usd vs previous 10.83 usd (revised from 10.83 usd).
We prefer to take long position on EUR/KRW only above 1,272, stop loss at 1,257 and target of 1,294.
