FxWirePro: South Korean won trades almost flat against euro after Fitch affirms Korea at 'AA-'

• EUR/KRW is currently trading around 1,286 mark.
   
• Pair made intraday high at 1,287 and low at 1,286 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,290 mark.
   
• A sustained close above 1,286 will take the parity higher towards key resistances around 1,294, 1,302, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,286 will drag the parity down towards key supports around 1,277, 1,267, 1,258, 1,246, 1,234, 1,222, 1,205 and 1,188 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Seoul shares open down 0.63 pct.
   
• Fitch affirms Korea at 'AA-'; outlook stable.
   
• Fitch affirmed Korea's long-term foreign-currency issuer default rating (IDR) at 'AA-' with a stable outlook.
   

We prefer to take long position on EUR/KRW only above 1,290, stop loss at 1,277 and target of 1,302/1,315.