FxWirePro: South Korean won falls in early Asia as consumer sentiment index misses expectations

• EUR/KRW is currently trading around 1,279 mark.
   
• Pair made intraday high at 1,280 and low at 1,277 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,277 mark.
   
• A sustained close above 1,279 will take the parity higher towards key resistances around 1,294, 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
   
• On the other side, a daily close below 1,279 will drag the parity down towards key supports around 1,272, 1,267, 1,258, 1,246 and 1,234 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 up 0.42 pct.
   
• Korea, South Nov 2018 consumer sentiment index decrease to 96 balance vs previous 99.5 balance.

We prefer to take short position on EUR/KRW only below 1,277, stop loss at 1,294 and target of 1,258.