FxWirePro: South Korean won falls gradually against euro, sustained close above 1,263 requires for upside rally

• EUR/KRW is currently trading around 1,260 mark.
   
• Pair made intraday high at 1,261 and low at 1,257 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,247 marks.
   
• A sustained close above 1,263 will take the parity higher towards key resistances around 1,266, 1,274, 1,287 and 1,304 marks respectively.
   
• On the other side, a daily close below 1,247 will drag the parity down towards key supports around 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Seoul shares open down 0.46 pct at 2370.69.

We prefer to take long position in EUR/KRW around 1,258, stop loss 1,247 and target of 1,266/1,287.