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- EUR/KRW is currently trading around 1,274 mark.
- It made intraday high at 1,276 and low at 1,274 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,272 mark.
- A sustained close above 1,272 will take the parity higher towards key resistances around 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,272 will drag the parity down towards key supports around 1,268, 1,257, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Seoul shares open up 0.31 pct.
We prefer to take short position on EUR/KRW around 1,274 mark, stop loss 1,289 and target of 1,257.
