FxWirePro: EUR/KRW exhibits range bound movement, stay bearish only below 1,280 mark

• EUR/KRW is currently trading around 1,283 mark.
   
• Pair made intraday high at 1,285 and low at 1,283 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,280 mark.
   
• A sustained close above 1,296 will take the parity higher towards key resistances around 1,302, 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,280 will drag the parity down towards key supports around 1,273, 1,264, 1,253 and 1,234 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Seoul shares open up 0.15 pct.

We prefer to take short position on EUR/KRW only below 1,280, stop loss at 1,296 and target of 1,264.

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