FxWirePro: South Korean won falls sharply against euro, stay bullish only above 1,320

• EUR/KRW is currently trading around 1,316 mark.
   
• Pair made intraday high at 1,319 and low at 1,316 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,320 mark.
   
• A sustained close above 1,320 will take the parity higher towards key resistances around 1,338, 1,351 and 1,377 marks respectively.
   
• On the other side, a daily close below 1,320 will drag the parity down towards key supports around 1,302, 1,290, 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 0.37 pct.

We prefer to take long position on EUR/KRW only above 1,320, stop loss at 1,302 and target of 1,338/1,351.

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