FxWirePro: South Korean won enjoys roller coaster movement against euro, faces key support at 1,318 mark

• EUR/KRW is currently trading around 1,348 mark. 

• It made intraday high at 1,349 and low at 1,337 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,336 mark.
   
• A sustained close above 1,336 will take the parity lower towards key resistances around 1,362, 1,374, 1,390, 1,400, 1,408 and 1,428 marks respectively.
   
• On the other side, a daily close below 1,336 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
   
• South Korea’s unemployment rate stands at 3.3 pct vs 4.0 pct previous release.
   
• South Korea’s kospi was trading 1.20 pct lower at 1,940.80 points.

We prefer to take short position on EUR/KRW only below 1,336, stop loss at 1,362 and target of 1,318/1,298.