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- EUR/KRW is currently trading around 1,307 mark.
- Pair made intraday high at 1,310 and low at 1,305 levels.
- Intraday bias remains slightly bullish till the time pair holds immediate support at 1,305 mark.
- A sustained close above 1,305 will take the parity higher towards key resistances around 1,315, 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,305 will drag the parity down towards key supports around 1,299, 1,290, 1,273 and 1,264 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 up 0.73 pct.
- Korea, South Feb industrial output growth increase to 1.1 % (forecast -0.5 %) vs previous 0.9 % (revised from 1 %).
We prefer to take short position on EUR/KRW only below 1,305, stop loss at 1,315 and target of 1,273.
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