FxWirePro: South Korean won trades almost flat in early Asia, bias remains neutral

• EUR/KRW is currently trading around 1,274.5 mark.
   
• Pair made intraday high at 1,274.8 and low at 1,274.1 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 1,276 will take the parity higher towards key resistances around 1,280, 1,294, 1,302, 1,315, 1,327, 1,332 and 1,340 marks respectively.
   
• On the other side, a daily close below 1,267 will drag the parity down towards key supports around 1,258, 1,242 and 1,222 marks respectively.
   
• 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.
   
• Seoul shares open up 0.46 pct.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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