FxWirePro: EUR/KRW rejects key support at 1,242 mark, faces strong resistance at 1,256

• EUR/KRW is currently trading around 1,251 mark.
   
• Pair made intraday high at 1,253 and low at 1,243 levels.
   
• Intraday bias remains bullish till the time pair holds immediate support at 1,245 mark.
   
• A consistent close below 1,245 will drag the parity down towards key supports around 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.


• Alternatively, a sustained close above 1,248 will take the parity higher towards key resistances around 1,252, 1.256, 1,262, 1,272, 1,280, 1,287 and 1,304 marks respectively.
   
• Seoul shares open up 0.01 pct at 2077.03.
   
• South Korea’s December import growth revised increase to 8.0 % vs previous 7.3 %.
   
• South Korea’s December export growth revised stays flat at 6.4 % vs previous 6.4 %.
   
• South Korea’s December trade balance revised decrease to 6.8 bln $ vs previous 7.00 bln $.

We prefer to take short position on EUR/KRW around 1,252, stop loss at 1,256 and target of 1,245/1,242/1,232.