FxWirePro: EUR/KRW stabilizes above 1,280 mark, faces key resistance at 1,286 mark

• EUR/KRW is currently trading around 1,282 mark.
   
• It made intraday high at 1,284 and low at 1,282 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,286 mark.
   
• A sustained close above 1,283 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
   
• On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,265, 1,244, 1,212 and 1,200 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• South Korea’s Kospi was trading 0.33 point higher at 2,129.42.

We prefer to take long position on EUR/KRW only above 1,286, stop loss at 1,274 and target of 1,302/1,319.