FxWirePro: EUR/KRW hovers around key support at 1,265 mark, sustained close below requires for downside rally

• EUR/KRW is currently trading around 1,266 mark.
   
• It made intraday high at 1,269 and low at 1,266 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,265 mark.
   
• A sustained close above 1,282 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 1,265 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 down 0.60 pct.
   
• Korea, South Jan 2019 current account balance nsa decrease to 2.77 usd vs previous 4.82 usd (revised from 4.82 usd).

We prefer to go short on EUR/KRW only below 1,265, stop loss 1,278 and target of 1,246.