FxWirePro: EUR/KRW breaks key resistance at 1,217 mark, stay bearish

• EUR/KRW is currently trading around 1,215 mark.
   
• Pair made intraday high at 1,218 and low at 1,214 levels.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at 1,225 mark.


• A consistent close below 1,216 will drag the parity down towards key supports around 1,210, 1,203, 1,199 and 1,163 marks respectively.
   
• Alternatively, a sustained close above 1,216 will take the parity higher towards key resistances around 1,225, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.


• Seoul shares open up 0.03 pct at 2079.30.
   
• South Korea’s January export price growth y/y increases to 7.4 % vs previous 6.6 % (revised from 6.3 %).
   
• South Korea’s January import price growth y/y increases to 13.2 % vs previous 9.2 %.

We prefer to take short position in EUR/KRW around 1,220, stop loss at 1,225 and target of 1,210/1,203.