- EUR/KRW is currently trading around 1,295 mark.
- It made intraday high at 1,296 and low at 1,295 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,295 mark.
- A sustained close above 1,295 will take the parity higher towards key resistances around 1,302, 1,323, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,282 will drag the parity down towards key supports around 1,274, 1,265 and 1,244 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- South Korea’s kospi was trading 0.10 pct lower at 2,202.88 mark.
- South Korea’s industrial production y/y stands at -0.3 pct vs -2.1 pct previous release (expected -1.4).
- South Korea’s retail sale stands at 3.0 pct vs -0.4 pct previous release.
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,292 and target of 1,323.
