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- EUR/KRW is currently trading around 1,216 mark.
- Pair made intraday high at 1,221 and low at 1,216 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,225 mark.
- A daily close below 1,218 will drag the parity down towards key supports around 1,207, 1,200, 1,184, 1,178 and 1,163 marks respectively.
- Alternatively, a sustained close above 1,218 will take the parity higher towards key resistances around 1,225, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
- Seoul shares open up 0.17 pct at 2084.16.
- South Korea’s January PPI growth y/y increases to 3.7 % vs previous 1.8 %.
- South Korea’s January PPI growth increases to 1.3 % vs previous 0.9 % (revised from 0.8 %).
We prefer to take short position in EUR/KRW around 1,220, stop loss at 1,225 and target of 1,200/1,184.
