- EUR/KRW is currently trading around 1,317 mark.
- It made intraday high at 1,318 and low at 1,316 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,310 mark.
- A sustained close above 1,318 will take the parity higher towards key resistances around 1,328, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,310 will drag the parity down towards key supports around 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 0.28 pct lower at 2,032.45 points.
- South Korea industrial production m/m at 0.2 pct vs -1.3 pct previous release.
- South Korea industrial production y/y at -2.9 pct vs 0.2 pct previous release.
- South Korea retail sales at -1.6 pct m/m vs 0.9 pct previous release.
We prefer to take long position on EUR/KRW only above 1,322, stop loss 1,310 and target of 1,340/1,358.
