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- EUR/KRW is currently trading around 1,312 mark.
- It made intraday high at 1,316 and low at 1,312 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,322 mark.
- A sustained close above 1,322 will take the parity higher towards key resistances around 1,336, 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
- On the other side, a daily close below 1,315 will drag the parity down towards key supports around 1,307, 1,298, 1,274 and 1,265 marks respectively.
- Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
We prefer to take short position on EUR/KRW around 1,315, stop loss at 1,325 and target of 1,298/1,274.
