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- EUR/KRW is currently trading around 1,352 mark.
- It made intraday high at 1,352 and low at 1,346 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,346 mark.
- A sustained close above 1,373 will take the parity higher towards key resistances around 1,392, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,347 will drag the parity down towards key supports around 1,336, 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 1.13 pct higher at 1,947.17 points.
- South Korea export price index y/y at -5.3 pct vs -2.7 pct previous release.
- South Korea import price index y/y at -1.3 pct vs -0.6 pct previous release.
- South Korea unemployment rate at 4.0 pct vs 4.0 pct previous release.
We prefer to take short position on EUR/KRW around 1,354, stop loss 1,362 and target of 1,336.
