FxWirePro: EUR/KRW remains well supported below 1,300 mark, good to sell on rallies

• EUR/KRW is currently trading around 1,284 mark.
   
• Pair made intraday high at 1,284 and low at 1,281 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,282 mark.
   
• A sustained close above 1,282 will take the parity higher towards key resistances around 1,294, 1,302, 1,315, 1,327, 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,282 will drag the parity down towards key supports around 1,273, 1,264, 1,242 and 1,222 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Seoul stock exchange will remain close in observance of Children’s Day.

We prefer to take short position on EUR/KRW around 1,290, stop loss at 1,302 and target of 1,264.

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