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FxWirePro: South Korean won remains almost unchanged after export – import price index data

  • EUR/KRW is currently trading around 1,287 mark.
     
  • It made intraday high at 1,288 and low at 1,286 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 1,288 mark.
     
  • A sustained close above 1,288 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
     
  • On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,265, 1,244, 1,212 and 1,200 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 0.25 point higher at 2,127.80.
     
  • South Korea’s export price index data stands at -7.3 pct vs -5.0 pct previous release.
     
  • South Korea’s import price index data stands at -5.7 pct vs -2.2 pct previous release.

We prefer to take long position on EUR/KRW only above 1,290, stop loss at 1,278 and target of 1,302/1,319.

By Aarti Panchal
  • Market Data
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