FxWirePro: EUR/KRW enjoys roller coaster movement, faces key support at 1,336 mark

• EUR/KRW is currently trading around 1,346 mark. 

• It made intraday high at 1,346 and low at 1,339 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,336 mark.
   
• A sustained close above 1,377 will take the parity lower towards key resistances around 1,392, 1,400, 1,408 and 1,428 marks respectively.
   
• On the other side, a daily close below 1,336 will drag the parity down towards key supports around 1,318, 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 2.80 pct higher at 1,498.52 points.
• South Korea’s PPI m/m stands at -0.3 pct vs 0.4 pct previous release.
   
• South Korea’s PPI y/y stands at 0.7 pct vs 1.1 pct previous release.

We prefer to take short position on EUR/KRW only below 1,336, stop loss at 1,362 and target of 1,318/1,298.