FxWirePro: EUR/KRW exhibits range bound movement, faces strong resistance at 1,228

• EUR/KRW is currently trading around 1,220 mark.
   
• Pair made intraday high at 1,222 and low at 1,217 levels.
   
• Intraday bias remains neutral till the time pair holds immediate support at 1,217 mark.
   
• A consistent close below 1,217 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 1,217 will take the parity higher towards key resistances around 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
   
• Seoul shares open down 0.01 pct.

We prefer to take short position in EUR/KRW only below 1,117, stop loss at 1,228 and target of 1,210.