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- EUR/KRW is currently trading around 1,330 mark.
- It made intraday high at 1,330 and low at 1,328 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,328 mark.
- A sustained close above 1,336 will take the parity higher towards key resistances around 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
- On the other side, a daily close below 1,328 will drag the parity down towards key supports around 1,320, 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. Current downside movement is short term trend correction only.
- South Korea’s kospi was trading 0.60 pct lower at 1,903.48 points.
We prefer to take short position on EUR/KRW only below 1,325, stop loss at 1,336 and target of 1,307/1,298.
