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- EUR/KRW is currently trading around 1,323 mark.
- Pair made intraday high at 1,325 and low at 1,323 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,320 mark.
- A sustained close above 1,328 will take the parity higher towards key resistances around 1,343, 1,355, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,308, 1,302, 1,288, 1,272 and 1,264 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.
- Seoul shares open up 0.11 pct.
- Korea, South Jan PPI growth increase to 0.4 % vs previous 0.1 %.
- Korea, South Jan PPI growth y/y decrease to 1.2 % vs previous 2.2 % (revised from 2.3 %).
We prefer to take short position on EUR/KRW only below 1,320, stop loss at 1,332 and target of 1,302.
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