- EUR/KRW is currently trading around 1,336 mark.
- It made intraday high at 1,337 and low at 1,334 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,342 mark.
- A sustained close above 1,342 will take the parity higher towards key resistances around 1,363, 1,373, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,332 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- South Korea’s Kospi was trading 1.26 pct higher at 1,957.23 point.
- South Korea July industrial production y/y 0.6 pct vs -2.6 pct previous release (forexast -1.6).
- South Korea retail sales m/m -0.9 pct vs -1.6 pct previous release.
- BOK interest rate August 1.5 pct vs 1.5 pct previous release.
We prefer to take short position on EUR/KRW only below 1,334, stop loss 1,345 and target of 1,311.
