FxWirePro: EUR/KRW hovers around 1,270 mark, sustained close below 1,265 requires for downside rally
EUR/KRW is currently trading around 1,270 mark. It made intraday high at 1,273 and low at 1,270 levels. Intraday bias remains neutral till the time pair holds key support at 1,265 mark. A sustained close above 1,273 will…
It made intraday high at 1,273 and low at 1,270 levels.
Intraday bias remains neutral till the time pair holds key support at 1,265 mark.
A sustained close above 1,273 will take the parity higher towards key resistances around 1,278, 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open up 0.48 pct.
We prefer to go short on EURKRW only below 1,265, stop loss at 1,278 and target of 1,246.
