- EUR/KRW is currently trading around 1,325 mark.
- It made intraday high at 1,325 and low at 1,322 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,322 mark.
- A sustained close above 1,336 will take the parity higher towards key resistances around 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
- On the other side, a daily close below 1,319 will drag the parity down towards key supports around 1,307, 1,298, 1,274 and 1,265 marks respectively.
- Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
- South Korea’s kospi was trading 0.20 pct lower at 1,918.72 points.
- South Korea’s consumer confidence data stands 70.8 vs 78.4 previous release.
We prefer to take short position on EUR/KRW only below 1,322, stop loss at 1,332 and target of 1,307/1,298.
