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FxWirePro: South Korean won trades marginally lower as PPI data misses expectations

  • EUR/KRW is currently trading around 1,321 mark.
     
  • It made intraday high at 1,322 and low at 1,317 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,319 mark.
     
  • A sustained close above 1,328 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 1,319 will drag the parity down towards key supports around 1,308, 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.
     
  • South Korea’s Kospi was trading 0.70 pct higher at 2,081.55 points.
     
  • South Korea PPI June 0.1 pct y/y vs 0.4 pct previous release.
     
  • South Korea PPI June at -0.3 pct m/m vs 0.0 pct previous release.

We prefer to take short position on EUR/KRW only below 1,317, stop loss 1,330 and target of 1,302/1,294.

By Aarti Panchal
  • Market Data
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