- EUR/KRW is currently trading around 1,360 mark.
- It made intraday high at 1,362 and low at 1,340 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,340 mark.
- A sustained close above 1,341 will take the parity lower towards key resistances around 1,363, 1,390, 1,400 and 1,428 marks respectively.
- On the other side, a daily close below 1,341 will drag the parity down towards key supports around 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 2.89 pct lower at 1,981.03 points.
We prefer to take long position on EUR/KRW around 1,355, stop loss at 1,338 and target of 1,390/1,400.
