FxWirePro: South Korean won appreciates against euro, sustained close below 1,305 targets 1,291 mark

• EUR/KRW is currently trading around 1,308 mark.
   
• Pair made intraday high at 1,314 and low at 1,308 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,322 mark.
   
• A sustained close above 1,313 will take the parity higher towards key resistances around 1,323, 1,327, 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,313 will drag the parity down towards key supports around 1,305, 1,298, 1,291, 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.
   
• Seoul shares open down 0.11 pct.

We prefer to take short position on EUR/KRW around 1,311, stop loss at 1,323 and target of 1,305/1,291.

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