- EUR/KRW is currently trading around 1,321 mark.
- It made intraday high at 1,322 and low at 1,320 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,320 mark.
- A sustained close above 1,336 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 1,319 will drag the parity down towards key supports around 1,307, 1,298, 1,274 and 1,265 marks respectively.
- Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
- South Korea’s kospi was trading 0.85 pct higher at 1,950.53 points.
- South Korea’s manufacturing BSI index data stands at 45 vs 52 previous release.
- South Korea’s industrial production y/y data stands at 7.1 vs 11.3 previous release (expected -1.9).
- South Korea’s retail sales data stands at -1.0 vs -6.0 previous release.
We prefer to take short position on EUR/KRW only below 1,316, stop loss at 1,332 and target of 1,307/1,298.
