FxWirePro: South Korean won appreciates against major peers on the back of higher than expected manufacturing BSI index

• EUR/KRW is currently trading around 1,244 mark.
   
• Pair made intraday high at 1,247 and low at 1,242 levels.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at 1,253 mark.
   
• A consistent close below 1,247 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 1,247 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.
   
• Seoul shares open up 0.38 pct at 2074.77.
   
• South Korea’s February manufacturing BSI index increases to 78 vs prev 73.

We prefer to take short position in EUR/KRW around 1,246, stop loss at 1,253 and target of 1,242/1,235/1,232.