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- EUR/KRW is currently trading around 1,260 mark.
- Pair made intraday high at 1,262 and low at 1,258 levels.
- Intraday bias remains bullish till the time pair holds immediate support at 1,248 mark.
- A consistent close below 1,258 will drag the parity down towards key supports around 1,248, 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
- Alternatively, a sustained close above 1,258 will take the parity higher towards key resistances around 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
- South Korean banks will be closed in observance of Lunar New Year.
We prefer to take long position in EUR/KRW around 1,260, stop loss at 1,248 and target of 1,272.
