- EUR/KRW is currently trading around 1,281 mark.
- It made intraday high at 1,281 and low at 1,280 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,280 mark.
- A sustained close above 1,280 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,280 will drag the parity down towards key supports around 1,278, 1,268 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 0.20 point higher at 2,147.58.
- South Korea’s current account stands at 7.48B vs 5.27B previous release (expected 8.45B).
We prefer to take short position on EUR/KRW only below 1,280, stop loss at 1,294 and target of 1,244.
