- EUR/KRW is currently trading around 1,348 mark.
- Pair made intraday high at 1,350 and low at 1,347 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,348 mark.
- A sustained close above 1,348 will take the parity higher towards key resistances around 1,360, 1,377 and 1,390 marks respectively.
- On the other side, a daily close below 1,348 will drag the parity down towards key supports around 1,340, 1,326, 1,320, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Seoul shares open up 0.21 pct.
- South Korea August export price growth y/y increase to 10.7 % vs previous 8.1 % (revised from 8 %).
- South Korea August import price growth y/y increase to 9 % vs previous 5.5 % (revised from 5.4 %).
- South Korea August unemployment rate increase to 3.8 % vs previous 3.6 %.
We prefer to take short position on EUR/KRW only below 1,346, stop loss at 1,355 and target of 1,340/1,334.
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