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FxWirePro: EUR/KRW rejects key support at 1,200 mark, upside limited

  • EUR/KRW is currently trading around 1,220 mark.
     
  • Pair made intraday high at 1,222 and low at 1,216 levels.
     
  • Intraday bias remains slightly bullish for the moment.
     
  • A daily close below 1,216 will drag the parity down towards key supports around 1,207, 1,200, 1,184, 1,178 and 1,163 marks respectively.
     
  • Alternatively, a sustained close above 1,216 will take the parity higher towards key resistances around 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
     
  • Seoul shares open down 0.45 pct at 2072.57.

We prefer to take short position in EUR/KRW around 1,222, stop loss at 1,228 and target of 1,200/1,184.

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