• EUR/KRW is currently trading around 1,220 mark.
   
• Pair made intraday high at 1,224 and low at 1,219 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,217 mark.
   
• A daily close below 1,223 will drag the parity down towards key supports around 1,217, 1,208, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
   
• Alternatively, a sustained close above 1,223 will take the parity higher towards key resistances around 1,228, 1,233, 1,242 and 1,252marks respectively.
   
• Seoul shares open down 0.16 pct at 2144.98.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• South Korea’s March PPI growth m/m decrease to -0.1 % vs previous 0.4 % (revised from 0.3 %).
   
• South Korea’s March PPI growth y/y decrease to 4.2 % vs previous 4.3 % (revised from 4.2 %).
  
  We prefer to take long position in EUR/KRW only above 1,223, stop loss at 1,217 and target of 1,233/1,242.