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- EUR/KRW is currently trading around 1,308 mark.
- It made intraday high at 1,310 and low at 1,308 levels.
- Intraday bias remains neutral till the time pair holds immediate resistance at 1,310 mark.
- A sustained close above 1,310 will take the parity higher towards key resistances around 1,323, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,310 will drag the parity down towards key supports around 1,290, 1,282, 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 industrial production stands at 4.2 vs -0.2 previous release (expected 1.0).
- South Korea’s retail sales remain unchanged at 0.3 pct.
- South Korea’s service sector output m/m stands at -0.1 vs 1.4 pct previous release.
- South Korea’s kospi was trading 0.20 pct higher at 2,152.24 points.
We prefer to take long position on EUR/KRW only above 1,310, stop loss at 1,295 and target of 1,323.
