FxWirePro: South Korean won rises in early Asia, sustained close below 1,319 requires for downside rally

• EUR/KRW is currently trading around 1,319 mark.
   
• Pair made intraday high at 1,322 and low at 1,319 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,319 mark.
   
• A sustained close above 1,321 will take the parity higher towards key resistances around 1,330, 1,343, 1,355, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,319 will drag the parity down towards key supports around 1,308, 1,298, 1,288, 1,272 and 1,264 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 0.56 pct.

We prefer to take short position on EUR/KRW only below 1,319, stop loss at 1,330 and target of 1,298.

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