FxWirePro: South Korean won falls gradually against euro, faces strong resistance at 1,322 mark

• EUR/KRW is currently trading around 1,321 mark.
   
• Pair made intraday high at 1,322 and low at 1,320 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,322 mark.
   
• A sustained close above 1,320 will take the parity higher towards key resistances around 1,330, 1,343, 1,355, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,320 will drag the parity down towards key supports around 1,308, 1,298, 1,288, 1,272 and 1,264 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 1.17 pct lower at 2,427 points.

We prefer to take long position on EUR/KRW only above 1,322, stop loss at 1,315 and target of 1,343.

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