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- EUR/KRW is currently trading around 1,338 mark.
- Pair made intraday high at 1,340 and low at 1,337 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1,340 mark.
- A sustained close above 1,340 will take the parity higher towards key resistances around 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
- On the other side, a daily close below 1,335 will drag the parity down towards key supports around 1,326, 1,320, 1,313 and 1,302 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 1.30 pct.
We prefer to take short position on EUR/KRW only below 1,335, stop loss at 1,343 and target of 1,326.
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