- EUR/KRW is currently trading around 1,280 mark.
- It made intraday high at 1,282 and low at 1,280 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1,287 mark.
- A sustained close above 1,279 will take the parity higher towards key resistances around 1,290, 1,302, 1,324, 1,332, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,279 will drag the parity down towards key supports around 1,274, 1,265, 1,244 and 1,222 marks respectively.
- Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
- South Korea’s kospi was trading 0.06 pct higher at 2,244.45 points.
We prefer to take short position on EUR/KRW around 1,281, stop loss at 1,287 and target of 1,274/1,265.