FxWirePro: South Korean won marginally higher on robust consumer sentiment index

• EUR/KRW is currently trading around 1,252 mark.
   
• Pair made intraday high at 1,255 and low at 1,250 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1,257 mark.
   
• A daily close below 1,253 will drag the parity down towards key supports around 1,247, 1,242, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
   
• Alternatively, a sustained close above 1,253 will take the parity higher towards key resistances around 1,257, 1,263, 1,274, 1,287 and 1,304 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 0.06 pct at 2344.39.
   
• South Korea May consumer sentiment index increase to 108.0 vs previous 101.2.

We prefer to take short position in EUR/KRW around 1,253, stop loss at 1,263 and target of 1,247/1,234.