- EUR/KRW is currently trading around 1,311 mark.
- It made intraday high at 1,314 and low at 1,311 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,318 mark.
- A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,308 will drag the parity down towards key supports around 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.
- Seoul shares open down 0.05 pct.
- Korea, South July 2019 BOK manufacturing BSI increase to 76 balance vs previous 72 balance.
We prefer to take short position on EUR/KRW only below 1,311, stop loss 1,320 and target of 1,294.
By Aarti Panchal