FxWirePro: EUR/KRW rejects key resistance at 1,268 mark, bias turns bearish again

• EUR/KRW is currently trading around 1,261 mark.
   
• Pair made intraday high at 1,266 and low at 1,261 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,268 mark.
   
• A sustained close above 1,266 will take the parity higher towards key resistances around 1,280, 1,294, 1,302, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,266 will drag the parity down towards key supports around 1,353, 1,246, 1,234, 1,222, 1,205 and 1,188 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 up 0.19 pct.

We prefer to take short position on EUR/KRW around 1,263, stop loss at 1,270 and target of 1,253/1,246.

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