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FxWirePro: South Korean won trades marginally higher against euro in early Asia, sustained close below 1,327 requires for downside rally

  • EUR/KRW is currently trading around 1,330 mark.
     
  • It made intraday high at 1,333 and low at 1,330 levels.
     
  • Intraday bias remains slightly bearish till the time pair holds key resistance at 1,340 mark.
     
  • A sustained close above 1,333 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
     
  • On the other side, a daily close below 1,327 will drag the parity down towards key supports around 1,317, 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 up 0.52 pct.

We prefer to take short position on EUR/KRW only below 1,327, stop loss 1,340 and target of 1,302.

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January 31 00:00 UTC 723166723166m

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2016 bln ARS

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