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FxWirePro: EUR/KRW rejects key support at 1,245, stay bullish

  • EUR/KRW is currently trading around 1,255 mark.
     
  • Pair made intraday high at 1,256 and low at 1,249 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,245 mark.
     
  • A sustained close above 1,252 will take the parity higher towards key resistances around 1,262, 1,268, 1,275, 1,280, 1,287 and 1,301 marks respectively.
     
  • On the other side, a consistent close below 1,252 will drag the parity down towards key supports around 1,245, 1,235, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
     
  • Seoul Kospi shares open up 0.30 pct at 2048.11.

We prefer to go long on EUR/KRW around 1,252 with stop loss at 1,245 and target of 1,262/1,268/1,275.

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