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- EUR/KRW is currently trading around 1,257 mark.
- Pair made intraday high at 1,261 and low at 1,257 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,280 mark.
- A sustained close above 1,260 will take the parity higher towards key resistances around 1,280, 1,294, 1,302, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,260 will drag the parity down towards key supports around 1,253, 1,246, 1,234, 1,222, 1,205 and 1,188 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Seoul shares open up 0.36 pct.
- Korea, South May unemployment rate increase to 4 % vs previous 3.8 %.
We prefer to take short position on EUR/KRW around 1,260, stop loss at 1,273 and target of 1,246.
