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- EUR/KRW is currently trading around 1,257 mark.
- Pair made intraday high at 1,258 and low at 1,256 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,258 marks.
- A sustained close above 1,258 will take the parity higher towards key resistances around 1,262, 1,269, 1,274, 1,287 and 1,304 marks respectively.
- On the other side, a daily close below 1,258 will drag the parity down towards key supports around 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 up 0.11 pct at 2364.20.
- South Korea May import price growth y/y decrease to 4.1 % vs previous 9.2 % (revised from 9.3 %).
- South Korea May export price growth y/y decrease to 5.3 % vs previous 8.9 % (revised from 8.7 %).
We prefer to take long position in EUR/KRW only above 1,262, stop loss 1,247 and target of 1,287.
