FxWirePro: EUR/KRW hovers around 1,260 mark, sustained close above targets 1,272
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…
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.
