FxWirePro: South Korean won trades almost flat against euro after PPI growth data

• EUR/KRW is currently trading around 1,320 mark.
   
• Pair made intraday high at 1,322 and low at 1,320 levels.
   
• Intraday bias remains neutral till the time pair holds immediate resistance at 1,324 mark.
   
• A sustained close above 1,321 will take the parity higher towards key resistances around 1,332, 1,338, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,312, 1,308, 1,290, 1,273 and 1,264 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Korea, South Feb PPI growth decrease to 0.4 % vs previous 0.5 % (revised from 0.4 %).
   
• Korea, South Feb PPI growth y/y increase to 1.3 % vs previous 1.2 %.
   
• Seoul shares open down 0.74 pct.

We prefer to take long position on EUR/KRW only above 1,322, stop loss at 1,312 and target of 1,338/1,356.

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