FxWirePro: EUR/KRW rejects key resistance at 1,272, stay bearish

• EUR/KRW is currently trading around 1,265 mark.
   
• Pair made intraday high at 1,266 and low at 1,262 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,272 mark.
   
• A consistent close below 1,266 will drag the parity down towards key supports around 1,260, 1,251, 1,245, 1,235, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
   
• Alternatively, a sustained close above 1,266 will take the parity higher towards key resistances around 1,272, 1,280, 1,287 and 1,304 marks respectively.
   
• Seoul shares open up 0.14 pct at 2048.08.
   
• South Korea’s December unemployment rate decreases to 3.4 % vs previous 3.6 %.
   
• South Korea’s December export price growth y/y increases to 6.3 % vs previous 3.5 % (revised from 3.8 %).
   
• South Korea’s December import price growth y/y increases to 9.2 % vs previous 3.6 %.

We prefer to go short on EUR/KRW around 1,265 with stop loss at 1,272 and target of 1,252.