FxWirePro: EUR/KRW trades in narrow range, bias remains neural

• EUR/KRW is currently trading around 1,248 mark.
   
• Pair made intraday high at 1,249 and low at 1,248 levels.
   
• Intraday bias remains neutral till the time pair holds immediate support at 1,249 mark.
   
• A consistent close below 1,248 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 1,257, 1,262, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
   
• South Korean banks will be closed in observance of Lunar New Year.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.