FxWirePro: South Korean won trades marginally higher after CPI, manufacturing PMI data

• EUR/KRW is currently trading around 1,300 mark.
   
• It made intraday high at 1,304 and low at 1,300 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,304 mark.
   
• A sustained close above 1,304 will take the parity higher towards key resistances around 1,315, 1,327 and 1,340 marks respectively.
   
• On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,287, 1,278, 1,268, 1,257, 1,246 and 1,234 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 April 2019 Nikkei markit manufacturing PMI increase to 50.2 vs previous 48.8.
   
• Korea, South April 2019 CPI growth mm increase to 0.4 % (forecast 0.2 %) vs previous -0.2 %.
   
• Korea, South April 2019 CPI growth yy increase to 0.6 % (forecast 0.4 %) vs previous 0.4 %.
   
• Seoul shares open down 0.48 pct.

We prefer to take short position on EUR/KRW around 1,302, stop loss 1,309 and target of 1,294/1,287.