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- EUR/KRW is currently trading around 1,317 mark.
- It made intraday high at 1,319 and low at 1,315 levels.
- Intraday bias remains slightly bullish till the time pair holds immediate support at 1,316 mark.
- A sustained close above 1,316 will take the parity higher towards key resistances around 1,324, 1,332, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,316 will drag the parity down towards key supports around 1,310, 1,290, 1,282, 1,274, 1,265 and 1,244 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 CPI y/y stands at 1.5 pct vs 0.7 pct previous release (expected 1.1).
- South Korea’s kospi was trading 1.33 pct higher at 2,146.77 points.
We prefer to take short position on EUR/KRW only below 1,315, stop loss at 1,327 and target of 1,302/1,290.
