- EUR/KRW is currently trading around 1,266 mark.
- Pair made intraday high at 1,266 and low at 1,264 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,265 marks.
- A sustained close above 1,270 will take the parity higher towards key resistances around 1,274, 1,287 and 1,304 marks respectively.
- On the other side, a daily close below 1,270 will drag the parity down towards key supports around 1,255, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Seoul shares open up 0.09 pct at 2387.29.
- South Korea May PPI growth m/m stays flat at -0.2 % vs previous -0.2 % (revised from -0.1 %).
- South Korea May PPI growth y/y decrease to 3.5 % vs previous 3.8 % (revised from 4.0 %).
We prefer to take long position in EUR/KRW only above 1,269, stop loss 1,254 and target of 1,287.
