FxWirePro: EUR/KRW hits fresh 1-month low at 1,267 mark, further downside movement likely

• EUR/KRW is currently trading around 1,269 mark.
   
• It made intraday high at 1,269 and low at 1,267 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1,280 mark.
   
• A sustained close above 1,280 will take the parity higher towards key resistances around 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,267 will drag the parity down towards key supports around 1,257, 1,246 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 0.09 pct.

We prefer to take short position on EURKRW around 1,270, stop loss 1,280 and target of 1,257.