- EUR/KRW is currently trading around 1,292 mark.
- It made intraday high at 1,293 and low at 1,292 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,302 mark.
- A sustained close above 1,302 will take the parity higher towards key resistances around 1,308, 1,323, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,290 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 0.05 points higher at 2,197.63.
- South Korea’s PPI m/m stands at -0.1 pct vs -0.2 pct previous release.
- South Korea’s PPI y/y stands at -0.1 pct vs -0.7 pct previous release.
We prefer to take short position on EUR/KRW around 1,294, stop loss at 1,302 and target of 1,274.
