- EUR/KRW is currently trading around 1,342 mark.
- It made intraday high at 1,345 and low at 1,342 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,343 mark.
- A sustained close above 1,343 will take the parity higher towards key resistances around 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
- On the other side, a daily close below 1,343 will drag the parity down towards key supports around 1,336, 1,322, 1,307, 1,298, 1,274 and 1,265 marks respectively.
- Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
- South Korea’s CPI y/y stands at 0.1 vs 1.0 previous release (expected 0.4).
- South Korea’s manufacturing PMI stands at 41.6 vs 44.2 previous release.
- South Korea’s kospi was trading 1.90 pct lower to 1,910.15 points.
We prefer to take long position on EUR/KRW only above 1,345, stop loss at 1,336 and target of 1,357/1,377.
