- EUR/KRW is currently trading around 1,352 mark.
- It made intraday high at 1,352 and low at 1,350 levels.
- Intraday bias remains neutral for the moment.
- A sustained close above 1,350 will take the parity higher towards key resistances around 1,377, 1,392 and 1,434 marks respectively.
- On the other side, a daily close below 1,350 will drag the parity down towards key supports around 1,336, 1,311, 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. Current downside movement is short term trend correction only.
- South Korea’s Kospi was trading 1.03 pct higher at 1,940.23 points.
We prefer to take short position on EUR/KRW only below 1,350, stop loss 1,362 and target of 1,336/1,311.
