- EUR/KRW is currently trading around 1,340 mark.
- It made intraday high at 1,340 and low at 1,338 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,337 mark.
- A sustained close above 1,342 will take the parity higher towards key resistances around 1,357, 1,373, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,337 will drag the parity down towards key supports around 1,328, 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’s Kospi was trading 0.01 pct higher at 1,960.44 point.
- South Korea’s PPI July m/m at 0.0 pct vs -0.3 pct previous release.
- South Korea’s PPI July y/y at -0.3 vs 0.1 pct prevvious release.
We prefer to take short position on EUR/KRWonly below 1,336, stop loss 1,345 and target of 1,328/1,311.