FxWirePro: South Korean won marginally lower as South Korea’s central bank keeps base rate steady at 1.25 pct

• EUR/KRW is currently trading around 1,211 mark.
   
• Pair made intraday high at 1,211 and low at 1,207 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,207 mark.
   
• A daily close below 1,207 will drag the parity down towards key supports around 1.200, 1,189, 1,178, 1,163 and 1,154 marks respectively.
   
• Alternatively, a sustained close above 1,207 will take the parity higher towards key resistances around 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively.
   
• Seoul shares open up 0.08 pct at 2130.64.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take long position in EUR/KRW around 1,210, stop loss at 1,207 and target of 1,218.