FxWirePro: South Korean won marginally higher against euro after BOK’s rate decision

• EUR/KRW is currently trading around 1,237 mark.
   
• Pair made intraday high at 1,241 and low at 1,236 levels.
   
• Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1,242 mark.
   
• A sustained close above 1,240 will take the parity higher towards key resistance around 1,255, 1,260, 1,269 and 1,272 marks respectively.


• On the other side, a consistent close below 1,232 will drag the parity down towards key supports around 1,227, 1,222 and 1,210 marks respectively.
   
• Seoul shares open down 0.72 pct at 2022.14.
   
• South Korea’s December base rate stays flat at 1.25 % (forecast 1.25 %) vs previous 1.25 %.
   
• South Korea’s November trade balance revised increase to 8.20 bln $ vs previous 8.00 bln $.

We prefer to go short on EUR/KRW around 1,238 with stop loss at 1,245 and target of 1,232/1,222.