FxWirePro: South Korean won trades marginally lower against euro after BOK’s base rate decision

• EUR/KRW is currently trading around 1,334 mark.
   
• Pair made intraday high at 1,335 and low at 1,333 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,327 mark.
   
• A sustained close above 1,333 will take the parity higher towards key resistances around 1,340, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,333 will drag the parity down towards key supports around 1,327, 1,320, 1,313 and 1,302 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Seoul shares open up 0.11 pct.
   
• South Korea Oct BOK base rate stays flat at 1.25 % vs previous 1.25 %.

We prefer to take short position on EUR/KRW only below 1,327, stop loss at 1,340 and target of 1,320/1,313.

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