FxWirePro: EUR/KRW breaks key support at 1,232 mark, stay bearish
EUR/KRW is currently trading around 1,230 mark. Pair made intraday high at 1,232 and low at 1,229 levels. Intraday bias remains bearish till the time pair holds immediate resistance at 1,242 mark. A sustained close above…
Pair made intraday high at 1,232 and low at 1,229 levels.
Intraday bias remains bearish till the time pair holds immediate resistance at 1,242 mark.
A sustained close above 1,242 will take the parity higher towards key resistance around 1,255, 1,260, 1,269 and 1,272 marks respectively.
On the other side, a consistent close below 1,230 will drag the parity down towards key supports around 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Seoul shares open up 0.03 pct at 2037.35.
We prefer to go short on EUR/KRW around 1,235 with stop loss at 1,242 and target of 1,222/1,209.
