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FxWirePro: EUR/KRW consolidates around 1,250 mark, bias remains neutral

  • EUR/KRW is currently trading around 1,250 mark.
     
  • Pair made intraday high at 1,253 and low at 1,249 levels.
     
  • Intraday bias remains neutral till the time pair holds immediate resistance at 1,253 mark.
     
  • A consistent close below 1,250 will drag the parity down towards key supports around 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
     
  • Alternatively, a sustained close above 1,250 will take the parity higher towards key resistances around 1,257, 1,262, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
     
  • Seoul shares open down 0.35 pct at 2065.54.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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