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FxWirePro: South Korean won trades flat despite higher than expected manufacturing BSI index data

  • EUR/KRW is currently trading around 1,311 mark.
     
  • It made intraday high at 1,314 and low at 1,311 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 1,318 mark.
     
  • A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
     
  • On the other side, a daily close below 1,308 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 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 0.05 pct.
     
  • Korea, South July 2019 BOK manufacturing BSI increase to 76 balance vs previous 72 balance. 

We prefer to take short position on EUR/KRW only below 1,311, stop loss 1,320 and target of 1,294.

By Aarti Panchal
  • Market Data
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