FxWirePro: EUR/KRW moves in stiff boundaries, sustained close above 1,315 requires for upside rally

• EUR/KRW is currently trading around 1,316 mark.
   
• Pair made intraday high at 1,316 and low at 1,313 levels.
   
• Intraday bias remain slightly bullish till the time pair holds key support at 1,305 mark.
   
• A sustained close above 1,315 will take the parity higher towards key resistances around 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,312 will drag the parity down towards key supports around 1,305, 1,298, 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. Current upside movement is short term trend correction only.
   
• Seoul shares open up 0.24 pct.
   
• Korea, South Mar unemployment rate increase to 4 % vs previous 3.6 %.

We prefer to take long position on EUR/KRW only above 1,320, stop loss at 1,312 and target of 1,332/1,340.

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