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- EUR/KRW is currently trading around 1,329 mark.
- It made intraday high at 1,330 and low at 1,329 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,328 mark.
- A sustained close above 1,342 will take the parity higher towards key resistances around 1,363, 1,373, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,328 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- South Korea’s Kospi was trading 0.17 pct higher at 1,972.23 point.
- South Korea CPI Aug m/m at 0.2 pct vs -0.3 pct previous release (expected 0.5).
- South Korea GDP q/q 1.0 pct vs -0.4 pct previous release.
We prefer to take short position on EUR/KRW only below 1,328, stop loss 1,340 and target of 1,311.
