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- EUR/KRW is currently trading around 1,346 mark.
- Pair made intraday high at 1,348 and low at 1,344 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,337 mark.
- A sustained close above 1,344 will take the parity higher towards key resistances around 1,351, 1,377 and 1,390 marks respectively.
- On the other side, a daily close below 1,337 will drag the parity down towards key supports around 1,323, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Seoul shares open down 1.54 pct.
- South Korea July import price growth y/y increase to 5.4 % vs previous 2 % (revised from 2.3 %).
- South Korea July export price growth y/y increase to 8 % vs previous 4.7 % (revised from 4.9 %).
We prefer to take long position on EUR/KRW around 1,345, stop loss at 1,337 and target of 1,377.
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