FxWirePro: South Korean won marginally higher on robust consumer sentiment index
Friday, March 24, 2017 1:59 AM UTC
- EUR/KRW is currently trading around 1,207 mark.
- Pair made intraday high at 1,208 and low at 1,206 levels.
- Intraday bias remains neutral for the moment.
- A daily close below 1,207 will drag the parity down towards key supports around 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.
- Alternatively, a sustained close above 1,207 will take the parity higher towards key resistances around 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
- Seoul shares open down 0.06 pct at 2171.36.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- South Korea’s March consumer sentiment index increases to 96.7 vs previous 94.4.
We prefer to take short position in EUR/KRW only below 1,207, stop loss at 1,215 and target of 1,191.