FxWirePro: EUR/KRW touches key support 1,281 mark in early Asia, consistent close below targets 1,265 mark

• EUR/KRW is currently trading around 1,283 mark.
   

• It made intraday high at 1,286 and low at 1,281 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,281 mark.
   
• A sustained close above 1,281 will take the parity higher towards key resistances around 1,290, 1,302, 1,324, 1,332, 1,347 and 1,363 marks respectively.
   
• On the other side, a daily close below 1,281 will drag the parity down towards key supports around 1,274, 1,265 and 1,244 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
   
• South Korea’s kospi was trading 0.57 pct higher at 2,257.15 points.

We prefer to take short position on EUR/KRW only below 1,281, stop loss at 1,290 and target of 1,274/1,265.