- EUR/KRW is currently trading around 1,335 mark.
- It made intraday high at 1,335 and low at 1,333 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,322 mark.
- A sustained close above 1,330 will take the parity higher towards key resistances around 1,338, 1,347, 1,363 and 1,390 marks respectively.
- On the other side, a daily close below 1,318 will drag the parity down towards key supports around 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 marks respectively.
- Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
- South Korea’s retail sales m/m stands at -3.1 vs 0.3 pct previous release.
- South Korea’s industrial productions y/y stands at -2.4 pct vs 4.2 pct previous release (expected -1.6 pct).
- South Korea’s kospi was trading 2.22 pct lower at 2,009.52 points.
We prefer to take long position on EUR/KRW around 1,330, stop loss at 1,320 and target of 1,347/1,363.