Fxwirepro: Eur/krw Hits Fresh 4-Week High at 1,225 Mark, Faces Strong Resistance at 1,228

EUR/KRW is currently trading around 1,224 mark.

Pair made intraday high at 1,225 and low at 1,219 levels.

Intraday bias remains bullish till the time pair holds key support at 1,221 mark.

A daily close below 1,221 will drag the parity down towards key supports around 1,207, 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,221 will take the parity higher towards key resistances around 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open down 0.27 pct at 2073.20.

South Korea’s February FX reserves increase to 373.91 bln $.

We prefer to take short position in EUR/KRW around 1,225, stop loss at 1,235 and target of 1,205.

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