- EUR/KRW is currently trading around 1,327 mark.
- It made intraday high at 1,333 and low at 1,325 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,377 mark.
- A sustained close above 1,377 will take the parity lower towards key resistances around 1,392, 1,400, 1,408 and 1,428 marks respectively.
- On the other side, a daily close below 1,328 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274 and 1,265 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 kospi was trading 4.62 pct higher at 1,684.22 points.
We prefer to take short position on EUR/KRW around 1,335, stop loss at 1,352 and target of 1,298.
