FxWirePro: South Korean won trades almost flat after mixed economic data, bias remains neutral

• EUR/KRW is currently trading around 1,254.3 mark.
   
• Pair made intraday high at 1,255.2 and low at 1,254.1 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 1,253.8 will take the parity higher towards key resistances around 1,268, 1,280, 1,294, 1,302, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,253.8 will drag the parity down towards key supports around 1,246.6, 1,234, 1,222, 1,205 and 1,188 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 0.82 pct.
   
• Korea, South June BOK manufacturing BSI decrease to 76 vs previous 77.
   
• Korea, South April industrial output yy increase to 0.9 % (forecast -1.2 %) vs previous -4 % (revised from -4.3 %).
   
• Korea, South April industrial output growth increase to 3.4 % (fcast 1 %) vs prev -2.2 % (revised from -2.5 %).

We prefer to take long position on EUR/KRW only above 1,257, stop loss at 1,245 and target of 1,280.

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