FxWirePro: South Korean won falls gradually against euro, consistent close above 1,327 requires for upside rally

• EUR/KRW is currently trading around 1,326 mark.
   
• It made intraday high at 1,327 and low at 1,324 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,319 mark.
   
• A sustained close above 1,327 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,319 will drag the parity down towards key supports around 1,308, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• South Korea’s Kospi was trading 0.30 pct lower at 2,080.57 points.

We prefer to take long position on EUR/KRW only above 1,327, stop loss 1,319 and target of 1,340/1,358.