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FxWirePro: South Korean won trades marginally higher despite lower than expected consumer sentiment index

  • EUR/KRW is currently trading around 1,313 mark.
     
  • Pair made intraday high at 1,316 and low at 1,313 levels.
     
  • Intraday bias remains bearish till the time pair holds immediate resistance at 1,320 mark.
     
  • A sustained close above 1,320 will take the parity higher towards key resistances around 1,327, 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
     
  • On the other side, a daily close below 1,310 will drag the parity down towards key supports around 1,305, 1,298, 1,291, 1,273, 1,264, 1,242 and 1,222 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • Korea, South April consumer sentiment index decrease to 107.1 vs previous 108.
     
  • Seoul shares open down 0.81 pct.

We prefer to take long position on EUR/KRW only above 1,318, stop loss at 1,310 and target of 1,332.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

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