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- EUR/KRW is currently trading around 1,387 mark.
- It made intraday high at 1,388 and low at 1,369 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,362 mark.
- A sustained close above 1,377 will take the parity lower towards key resistances around 1,392, 1,400, 1,408 and 1,428 marks respectively.
- On the other side, a daily close below 1,362 will drag the parity down towards key supports around 1,351, 1,336, 1,318, 1,307, 1,298, 1,274 and 1,265 marks respectively.
- Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
- South Korea’s kospi was trading 4.33 pct lower at 1,522.96 points.
We prefer to take long position on EUR/KRW around 1,380, stop loss at 1,360 and target of 1,428.
