- EUR/KRW is currently trading around 1,314 mark.
- It made intraday high at 1,315 and low at 1,314 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,317 mark.
- A sustained close above 1,317 will take the parity higher towards key resistances around 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278 and 1,268 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- South Korea’s kospi was trading 0.93 pct lower at 2,053.33 points.
We prefer to take long position on EUR/KRW only above 1,317, stop loss 1,302 and target of 1,347.
