- EUR/KRW is currently trading around 1,299 mark.
- It made intraday high at 1,302 and low at 1,299 levels.
- Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1,306 mark.
- A sustained close above 1,300 will take the parity higher towards key resistances around 1,312, 1,324, 1,332, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,290, 1,282, 1,274, 1,265 and 1,244 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 current account stands at 4.33B vs 5.97B previous release (expected 8.26B).
- South Korea’s kospi was trading 1.74 pct higher at 2,203.15 points.
We prefer to take short position on EUR/KRW around 1,301, stop loss at 1,307 and target of 1,290.
