FxWirePro: South Korean won remains almost unchanged despite robust consumer confidence data

• EUR/KRW is currently trading around 1,312 mark.
   
• It made intraday high at 1,313 and low at 1,311 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,309 mark.
   
• A sustained close above 1,317 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 1,309 will drag the parity down towards key supports around 1,302, 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 Sept consumer confidence stands at 96.9 pct vs 92.5 pct previous release (expected 90.0 pct).
   
• South Korea’s kospi was trading 0.60 pct higher at 2,085.28 points.

We prefer to take short position on EUR/KRW only below 1,309, stop loss 1,320 and target of 1,287.