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- EUR/KRW is currently trading around 1,330 mark.
- It made intraday high at 1,333 and low at 1,322 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,322 mark.
- A sustained close above 1,333 will take the parity higher towards key resistances around 1,338, 1,347, 1,363 and 1,390 marks respectively.
- On the other side, a daily close below 1,322 will drag the parity down towards key supports around 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 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 manufacturing PMI stands at 48.7 vs 49.8 pct previous release.
- South Korea’s kospi was trading 0.80 pct higher at 2,003.96 points.
We prefer to take long position on EUR/KRW around 1,327, stop loss at 1,318 and target of 1,347/1,363.
