FxWirePro: South Korean won trades marginally higher on robust GDP data

• EUR/KRW is currently trading around 1,313 mark.
   
• Pair made intraday high at 1,314 and low at 1,312 levels.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at 1,320 mark.
   
• A sustained close above 1,313 will take the parity higher towards key resistances around 1,320, 1,327, 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,313 will drag the parity down towards key supports around 1,305, 1,298, 1,291, 1,273, 1,264, 1,242 and 1,222 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 0.48 pct.
   
• Korea, South Q1 GDP growth qq advance increase to 1.1 % (forecast 1 %) vs previous -0.2 %.
   
• Korea, South Q1 GDP growth yy advance stays flat at 2.8 % (forecast 2.9 %) vs previous 2.8 %.

We prefer to take short position on EUR/KRW around 1,313, stop loss at 1,320 and target of 1,305/1,291.

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