- EUR/KRW is currently trading around 1,334 mark.
- It made intraday high at 1,335 and low at 1,332 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,332 mark.
- A sustained close above 1,342 will take the parity higher towards key resistances around 1,357, 1,373, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,332 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- South Korea’s Kospi was trading 0.18 pct lower at 1,961.60 point.
We prefer to take short position on EUR/KRWonly below 1,332, stop loss 1,342 and target of 1,311/1,302.