FxWirePro: EUR/KRW hits fresh 4-week high at 1,225 mark, faces strong resistance at 1,228

• EUR/KRW is currently trading around 1,224 mark.
   
• Pair made intraday high at 1,225 and low at 1,219 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,221 mark.
   
• A daily close below 1,221 will drag the parity down towards key supports around 1,207, 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.
   
• Alternatively, a sustained close above 1,221 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 0.27 pct at 2073.20.
   
• South Korea’s February FX reserves increase to 373.91 bln $.

We prefer to take short position in EUR/KRW around 1,225, stop loss at 1,235 and target of 1,205.