FxWirePro: South Korean won marginally higher against euro on robust manufacturing BSI index

• EUR/KRW is currently trading around 1,197 mark.
   
• Pair made intraday high at 1,199 and low at 1,197 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,205 mark.
   
• A daily close below 1,198 will drag the parity down towards key supports around 1,191, 1,184, 1,178 and 1,163 marks respectively.
   
• Alternatively, a sustained close above 1,198 will take the parity higher towards key resistances around 1,205, 1,221, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
   
• Seoul shares open up 0.08 pct at 2087.26.
   
• South Korea’s BOK manufacturing BSI index increases to 79 vs previous 78.

We prefer to take short position in EUR/KRW around 1,199, stop loss at 1,205 and target of 1,184.