- EUR/KRW is currently trading around 1,364 mark.
- It made intraday high at 1,374 and low at 1,362 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1,374 mark.
- A sustained close above 1,374 will take the parity lower towards key resistances around 1,390, 1,400, 1,408 and 1,428 marks respectively.
- On the other side, a daily close below 1,374 will drag the parity down towards key supports around 1,341, 1,318, 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.
- South Korea’s kospi was trading 0.28 pct higher at 1,960.74 points.
We prefer to take long position on EUR/KRW only above 1,374, stop loss at 1,350 and target of 1,390/1,408.
