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- EUR/KRW is currently trading around 1,327 mark.
- It made intraday high at 1,331 and low at 1,327 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,337 mark.
- A sustained close above 1,331 will take the parity higher towards key resistances around 1,342, 1,363, 1,373, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,327 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 0.80 pct higher at 2,004.24 point.
- South Korea July current account stands at 6.95B vs 6.38B previous release.
We prefer to take short position on EUR/KRW around 1,330, stop loss 1,342 and target of 1,311/1,302.
