- EUR/KRW is currently trading around 1,295 mark.
- Pair made intraday high at 1,295 and low at 1,293 levels.
- Intraday bias remains neutral for the moment.
- A sustained close above 1,295 will take the parity higher towards key resistances around 1,305, 1,316, 1,321, 1,338, 1,351 and 1,377 marks respectively.
- On the other side, a daily close below 1,295 will drag the parity down towards key supports around 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Seoul shares open up 0.36 pct.
- South Korea June export price growth y/y decrease to 4.9 % vs previous 5.1 % (revised from 5.3 %).
- South Korea June import price growth y/y decrease to 2.3 % vs previous 4.1 %.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
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