FxWirePro: South Korean won trades almost flat against euro after mixed economic data

• EUR/KRW is currently trading around 1,274 mark.
   
• Pair made intraday high at 1,277 and low at 1,274 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,273 mark.
   
• A sustained close above 1,275 will take the parity higher towards key resistances around 1,280, 1,296, 1,302, 1,313, 1,327, 1,338, 1,347 and 1,355 marks respectively.
   
• On the other side, a daily close below 1,273 will drag the parity down towards key supports around 1,264, 1,253 and 1,234 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 0.11 pct.
   
• Korea, South Jan BOK manufacturing BSI decrease to 83 vs previous 84.
   
• Korea, South Nov industrial output y/y increase to -1.6 % (forecast 1 %) vs previous -6.1 % (revised from -5.9 %).
   
• Korea, South Nov service sector output growth increase to 2.5 % vs previous -1.9 % (revised from -1.7 %).

We prefer to take short position on EUR/KRW only below 1,273, stop loss at 1,282 and target of 1,264/1,253.

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