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FxWirePro: EUR/KRW stabilizes above 1,350 mark, consistent close above 1,373 targets 1,410 mark

  • EUR/KRW is currently trading around 1,357 mark.
     
  • It made intraday high at 1,358 and low at 1,352 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,332 mark.
     
  • A sustained close above 1,363 will take the parity higher towards key resistances around 1,373, 1,410 and 1,434 marks respectively.
     
  • On the other side, a daily close below 1,363 will drag the parity down towards key supports around 1,332, 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.
     
  • South Korea’s Kospi was trading 1.71 pct lower at 1,915.60 point.  

We prefer to take long position on EUR/KRWaround 1,350, stop loss 1,332 and target of 1,373/1,410.

By Aarti Panchal
  • Market Data
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