FxWirePro: South Korean won falls gradually against euro, faces strong resistance at 1,349 mark

• EUR/KRW is currently trading around 1,340 mark.
   
• Pair made intraday high at 1,343 and low at 1,340 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1,344 mark.
   
• A sustained close above 1,344 will take the parity higher towards key resistances around 1,349, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,344 will drag the parity down towards key supports around 1,336, 1,325, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
   
• Seoul shares open up 0.22 pct at 2360.29.

We prefer to take long position on EUR/KRW only above 1,344, stop loss at 1,330 and target of 1,363.

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