- EUR/KRW is currently trading around 1,257 mark.
- Pair made intraday high at 1,257 and low at 1,253 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,262 mark.
- A sustained close above 1,262 will take the parity higher towards key resistances around 1,280, 1,294, 1,302, 1,315 and 1,327 marks respectively
. - On the other side, a daily close below 1,246 will drag the parity down towards key supports around 1,234, 1,222, 1,205 and 1,188 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Seoul shares open up 0.59 pct.
We prefer to take long position on EUR/KRW only above 1,262, stop loss at 1,246 and target of 1,280.
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