- EUR/KRW is currently trading around 1,369 mark.
- It made intraday high at 1,369 and low at 1,363 levels.
- Intraday bias remains bullish for the moment.
- A sustained close above 1,363 will take the parity higher towards key resistances around 1,377, 1,392 and 1,434 marks respectively.
- On the other side, a daily close below 1,363 will drag the parity down towards key supports around 1,338, 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 June current account at 6.38B vs 4.81B previous release.
- South Korea’s Kospi was trading 1.73 pct lower at 1,913.23 points.
We prefer to take long position on EUR/KRW around 1,360, stop loss 1,340 and target of 1,392/1,400/1,434.
