FxWirePro: EUR/KRW hits fresh 3-week low at 1,301 mark, consistent close below requires for downside rally

• EUR/KRW is currently trading around 1,301 mark.
   
• Pair made intraday high at 1,302 and low at 1,301 levels.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at 1,315 mark.
   
• A sustained close above 1,302 will take the parity higher towards key resistances around 1,308, 1,315, 1,327, 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,291, 1,273, 1,264, 1,242 and 1,222 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 0.89 pct.

We prefer to take short position on EUR/KRW around 1,304, stop loss at 1,315 and target of 1,291.

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