- EUR/KRW is currently trading around 1,272 mark.
- It made intraday high at 1,272 and low at 1,270 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,265 mark.
- A sustained close above 1,273 will take the parity higher towards key resistances around 1,278, 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Seoul shares open down 0.14 pct.
- Korea, South March 2019 BOK base rate stays flat at 1.75 % (forecast 1.75 %) vs previous 1.75 %.
We prefer to go long on EURKRW around 1,270, stop loss at 1,265 and target of 1,278/1,288.
