FxWirePro: EUR/KRW rejects key resistance at 1,280 mark, bias turns bearish again

• EUR/KRW is currently trading around 1,257 mark.
   
• Pair made intraday high at 1,261 and low at 1,257 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,280 mark.
   
• A sustained close above 1,260 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 1,260 will drag the parity down towards key supports around 1,253, 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 0.36 pct.
   
• Korea, South May unemployment rate increase to 4 % vs previous 3.8 %.

We prefer to take short position on EUR/KRW around 1,260, stop loss at 1,273 and target of 1,246.