FxWirePro: EUR/KRW hovers around 1,270 mark, sustained close below targets 1,257 mark

• EUR/KRW is currently trading around 1,271 mark.
   
• It made intraday high at 1,272 and low at 1,271 levels
   
• Intraday bias remains neutral till the time pair holds key support at 1,268 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 1,268 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.

We prefer to take short position on EURKRW only below 1,268, stop loss 1,280 and target of 1,257.