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- EUR/KRW is currently trading around 1,294 mark.
- Pair made intraday high at 1,298 and low at 1,294 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,302 mark.
- A sustained close above 1,296 will take the parity higher towards key resistances around 1,302, 1,315, 1,327 and 1,338 marks respectively.
- On the other side, a daily close below 1,296 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 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 down 0.63 pct.
We prefer to take short position on EUR/KRW around 1,296, stop loss at 1,302 and target of 1,286/1,277.
