FxWirePro: EUR/KRW moves in rigid boundaries, stay neutral

• EUR/KRW is currently trading around 1,275 mark.
   
• It made intraday high at 1,275 and low at 1,273 levels.
   
• Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,270 to 1,290 mark.
   
• A sustained close above 1,278 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 1,265 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 0.01 pct.

We prefer to take short position on EUR/KRW only below 1,269, stop loss 1,277 and target of 1,265/1,257/1,246.