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FxWirePro: South Korean won remains almost unchanged despite robust PPI data

  • EUR/KRW is currently trading around 1,276 mark.
     
  • It made intraday high at 1,277 and low at 1,276 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1,276 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 1,276 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.
     
  • Seoul shares open up 0.44 pct.
     
  • Korea, South March 2019 PPI growth mm increase to 0.3 % vs previous 0.1 %.
     
  • Korea, South March 2019 PPI growth yy increase to 0.1 % vs previous -0.2 %.

We prefer to take short position on EUR/KRW only below 1,276, stop loss 1,285 and target of 1,265/1,257.

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