FxWirePro: South Korean won remains almost unchanged despite lower than expected GDP data

• EUR/KRW is currently trading around 1,302 mark.
   
• It made intraday high at 1,304 and low at 1,302 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,302 mark.
   
• A sustained close above 1,302 will take the parity higher towards key resistances around 1,319, 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.
   
• South Korea’s Kospi was trading 0.07 point lower at 2,079.59.
   
• South Korea’s GDP q/q stands at 0.4 pct vs 1.0 pct previous release (expected 0.5).
   
• South Korea’s GDP y/y stands at 2.0 pct vs 2.0 pct previous release (expected 2.1).

We prefer to take short position on EUR/KRW only below 1,302, stop loss at 1,311 and target of 1,294/1,287.