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- EUR/KRW is currently trading around 1,311 mark.
- It made intraday high at 1,312 and low at 1,311 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,310 mark.
- A sustained close above 1,310 will take the parity higher towards key resistances around 1,328, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,310 will drag the parity down towards key supports around 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 0.22 pct lower at 2,077.55 points.
- South Korea GDP q/q at 1.1 pct vs -0.4 pct previous release.
- South Korea GDP y/y at 2.1 pct vs 1.7 pct previous release.
We prefer to take short position on EUR/KRW only below 1,310, stop loss 1,322 and target of 1,294/1,287.
