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FxWirePro: EUR/KRW rejects key support at 1,343 mark, bias turns bullish again

  • EUR/KRW is currently trading around 1,353 mark.

  • Pair made intraday high at 1,353 and low at 1,349 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,343 mark.
     
  • A sustained close above 1,350 will take the parity higher towards key resistances around 1,363, 1,377 and 1,390 marks respectively.
     
  • On the other side, a daily close below 1,350 will drag the parity down towards key supports around 1,343, 1,334, 1,326, 1,320, 1,313 and 1,302 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • Seoul shares open down 0.09 pct at 2404.35.

We prefer to take long position on EUR/KRW around 1,350, stop loss at 1,343 and target of 1,377.

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