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- EUR/KRW is currently trading around 1,322 mark.
- It made intraday high at 1,328 and low at 1,322 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,330 mark.
- A sustained close above 1,328 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,319 will drag the parity down towards key supports around 1,308, 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 0.33 pct lower at 2,066.48 points.
- BOK reduces interest rate to 1.5 pct vs 1.75 pct previous release.
We prefer to take long position on EUR/KRW only above 1,330, stop loss 1,317 and target of 1,358/1,363.
