- EUR/KRW is currently trading around 1,272 mark.
- Pair made intraday high at 1,276 and low at 1,272 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,278 mark.
- A sustained close above 1,275 will take the parity higher towards key resistances around 1,280, 1,296, 1,302, 1,313, 1,327, 1,338, 1,347 and 1,355 marks respectively.
- On the other side, a daily close below 1,275 will drag the parity down towards key supports around 1,264, 1,253 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Korea, South Dec CPI growth increase to 0.3 % (forecast 0.2 %) vs previous -0.7 %.
- Korea, South Dec CPI growth y/y increase to 1.5 % (forecast 1.5 %) vs previous 1.3 %.
We prefer to take short position on EUR/KRW around 1,275, stop loss at 1,282 and target of 1,264/1,253.
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