- EUR/KRW is currently trading around 1,296 mark.
- It made intraday high at 1,297 and low at 1,293 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,290 mark.
- A sustained close above 1,302 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,274, 1,265, 1,244, 1,212 and 1,200 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 0.14 point lower at 2,124.10.
- South Korea’s manufacturing BSI index stands at 74.0 vs 74.0 previous release.
We prefer to take long position on EUR/KRW around 1,295, stop loss at 1,288 and target of 1,304/1,319.
