- EUR/KRW is currently trading around 1,281 mark.
- It made intraday high at 1,281 and low at 1,277 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,278 mark.
- A sustained close above 1,289 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,278 will drag the parity down towards key supports around 1,269, 1,257, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Korea, South April 2019 BOK base rate stays flat at 1.75 % (forecast 1.75 %) vs previous 1.75 %.
- Seoul shares open up 0.13 pct.
We prefer to take long position on EUR/KRW only above 1,290, stop loss 1,278 and target of 1,307.
By Aarti Panchal