FxWirePro: EUR/KRW hovers around key support at 1,327 mark, sustained close below targets 1,302 mark

• EUR/KRW is currently trading around 1,327 mark.
   
• It made intraday high at 1,328 and low at 1,327 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,342 mark.
   
• A sustained close above 1,342 will take the parity higher towards key resistances around 1,363, 1,373, 1,410 and 1,434 marks respectively.
   
• On the other side, a daily close below 1,327 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• South Korea’s Kospi was trading 0.20 pct higher at 1,969.54 point.
   
• South Korea Fx reserves – USD Aug stands at 401.48B vs 403.11B previous release.

We prefer to take short position on EUR/KRW around 1,330, stop loss 1,342 and target of 1,311/1,302.