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- EUR/KRW is currently trading around 1,322 mark.
- It made intraday high at 1,329 and low at 1,322 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,321 mark.
- A sustained close above 1,330 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,317, 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.
- Seoul shares open down 0.52 pct.
- Korea, South May 2019 Nikkei Markit manufacturing PMI decrease to 48.4 vs previous 50.2.
- South Korea May new export orders contract for 10th month, longest decline since 2015.
We prefer to take short position on EUR/KRW only below 1,321, stop loss 1,330 and target of 1,302.
