FxWirePro: South Korean won remains almost unchanged after export – import price index data

• EUR/KRW is currently trading around 1,314 mark.
   
• It made intraday high at 1,314 and low at 1,313 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,316 mark.
   
• A sustained close above 1,316 will take the parity higher towards key resistances around 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
   
• On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278 and 1,268 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.
   
• South Korea August export price index data y/y stands at -3.9 pct vs -5.4 pct previous release.
   
• South Korea August import price index data y/y stands at 0.0 pct vs -1.1 pct previous release.
• South Korea’s kospi was trading 0.06 pct higher at 2,063.65 points.

We prefer to take long position on EUR/KRW only above 1,318, stop loss 1,302 and target of 1,327/1,347.