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FxWirePro: South Korean won trades marginally lower as BOK keeps base rate flat

  • EUR/KRW is currently trading around 1,281 mark.
     
  • It made intraday high at 1,281 and low at 1,277 levels.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 1,278 mark.
     
  • A sustained close above 1,289 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
     
  • On the other side, a daily close below 1,278 will drag the parity down towards key supports around 1,269, 1,257, 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.
     
  • Korea, South April 2019 BOK base rate stays flat at 1.75 % (forecast 1.75 %) vs previous 1.75 %.
     
  • Seoul shares open up 0.13 pct.

We prefer to take long position on EUR/KRW only above 1,290, stop loss 1,278 and target of 1,307.

By Aarti Panchal
  • Market Data
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