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- EUR/KRW is currently trading around 1,301 mark.
- Pair made intraday high at 1,302 and low at 1,299 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,313 mark.
- A sustained close above 1,301 will take the parity higher towards key resistances around 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
- On the other side, a daily close below 1,301 will drag the parity down towards key supports around 1,298, 1,289, 1,277, 1,268 and 1,253 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- South Korea’s Kospi was trading 0.15 percent higher at 2,522.10 points.
We prefer to take short position on EUR/KRW around 1,304, stop loss at 1,314 and target of 1,277.
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