- EUR/KRW is currently trading around 1,272 mark.
- It made intraday high at 1,273 and low at 1,272 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,269 mark.
- A sustained close above 1,272 will take the parity higher towards key resistances around 1,282, 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 1,265, 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 down 0.02 pct.
- Korea, South March 2019 FX reserves increase to 405.25 usd vs previous 404.67 usd.
We prefer to take short position on EUR/KRW only below 1,269, stop loss 1,278 and target of 1,257/1,246.
