•EUR/KRW is currently trading around 1,288 mark.
•It made intraday high at 1,293 and low at 1,287 levels.
•Intraday bias remains neutral till the time pair holds key support at 1,280 mark.
•A sustained close above 1,290 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 1,280 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 0.35 pct lower at 2,230.06 points.
•South Korea’s export price index data stands at -3.1 pct vs -6.5 pct previous release (expected -5.8 pct).
•South Korea’s import price index data stands at 3.4 pct vs -2.1 pct previous release (expected -2.2 pct).
•South Korea’s unemployment rate Dec stands at 3.8 pct vs 3.6 pct previous release (expected 3.6 pct).
We prefer to take short position on EUR/KRW around 1,290, stop loss at 1,295 and target of 1,280/1,274/1,265.
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