FxWirePro: South Korean won depreciates in early Asia after BOK’s interest rate decisionte

• EUR/KRW is currently trading around 1,323 mark.
   

• It made intraday high at 1,325 and low at 1,319 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,310 mark.
   
• A sustained close above 1,322 will take the parity higher towards key resistances around 1,332, 1,347 and 1,363 marks respectively.
   
• On the other side, a daily close below 1,318 will drag the parity down towards key supports around 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
   
• BOK keeps interest rate unchanged at 1.25 pct vs 1.00 pct expected.
   
• South Korea’s kospi was trading 0.57 pct lower at 2,064.51 points.

We prefer to take long position on EUR/KRW only above 1,325, stop loss at 1,315 and target of 1,347.