FxWirePro: EUR/KRW breaks key resistance at 1,268 mark, sustained close above requires for upside rally

• EUR/KRW is currently trading around 1,269 mark.
   
• Pair made intraday high at 1,270 and low at 1,267 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,260 mark.
   
• A sustained close above 1,268 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 1,268 will drag the parity down towards key supports around 1,260, 1,253, 1,246, 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 stock exchange will remain close in observance of Regional Election Day.

We prefer to take long position on EUR/KRW around 1,268, stop loss at 1,260 and target of 1,280.

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