• FxWirePro: South Korean WON depreciates in early Asia after BOK’s interest rate decision

    Source: FxWire Pro - Technicals / 26 Feb 2020 20:44:56   America/New_York

    • 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.

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