FxWirePro: EUR/KRW exhibits range bound movement, consistent close above 1,302 requires for upside rally

• EUR/KRW is currently trading around 1,299 mark.
   
• Pair made intraday high at 1,300 and low at 1,296 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 1,302 will take the parity higher towards key resistances around 1,315, 1,327  and 1,338 marks respectively.
   
• On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Seoul shares open down 0.08 pct.
   
• Korea, South June 2018 FX reserves increase to 400.3 (previous 398.98).
   
• South Korea end - June foreign exchange reserves at record high.

We prefer to take long position on EUR/KRW only below 1,294, stop loss at 1,308 and target of 1,277/1,267.