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FxWirePro: EUR/AUD loses upside momentum but outlook is bullish 
- EUR/KRW is currently trading around 1,280 mark.
- It made intraday high at 1,283 and low at 1,279 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,289 mark.
- A sustained close above 1,283 will take the parity higher towards key resistances around 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,283 will drag the parity down towards key supports around 1,278, 1,272, 1,265, 1,257, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Seoul shares open up 0.38 pct.
We prefer to take short position on EUR/KRW around 1,282, stop loss 1,289 and target of 1,272/1,265.
