- EUR/KRW is currently trading around 1,3221 mark.
- It made intraday high at 1,324 and low at 1,321 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1,324 mark.
- A sustained close above 1,324 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 1,324 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 0.56 pct higher at 2,063.55 points.
- South Korea’s June unemployment rate at 4.0 pct vs 4.0 pct previous release (expected 3.9 pct).
We prefer to take long position on EUR/KRW only above 1,324, stop loss 1,315 and target of 1,340/1,358.
