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- EUR/KRW is currently trading around 1,356 mark.
- It made intraday high at 1,368 and low at 1,353 levels.
- Intraday bias remains slightly 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 1,336 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 6.33 pct higher at 1,577.06 points.
We prefer to take long position on EUR/KRW only above 1,370, stop loss at 1,336 and target of 1,392/1,400.
