- EUR/KRW is currently trading around 1,288 mark.
- It made intraday high at 1,289 and low at 1,288 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,282 mark.
- A sustained close above 1,288 will take the parity higher towards key resistances around 1,302, 1,323, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,282 will drag the parity down towards key supports around 1,274, 1,265 and 1,244 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- South Korea’s kospi was trading 0.24 pct higher at 2,203.89 mark.
- South Korea’s consumer confidence stands at 100.4 pct vs 100.9 pct previous release.
We prefer to take long position on EUR/KRW only above 1,292, stop loss at 1,282 and target of 1,302/1,323.
