- EUR/KRW is currently trading around 1,209 mark.
- Pair made intraday high at 1,209 and low at 1,203 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,201 mark.
- A daily close below 1,203 will drag the parity down towards key supports around 1.201, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,203 will take the parity higher towards key resistances around 1,207, 1,211, 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively.
- Seoul shares open down 0.48 pct at 2138.28.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- South Korea’s March import price growth y/y decrease to 6.9 % vs previous 9.2 % (revised from 9.1 %).
- South Korea’s March export price growth y/y decrease to 4.9 % vs previous 5.1 % (revised from 4.9 %).
We prefer to take long position in EUR/KRW around 1,205, stop loss at 1,201 and target of 1,211/1,218.
