FxWirePro: South Korean won trades marginally lower  as CPI data misses expectations

• EUR/KRW is currently trading around 1,311 mark.
   
• It made intraday high at 1,311 and low at 1,308 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark.
   
• A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,308 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 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 June 2019 CPI nsa decrease to 104.88 vs previous 105.05.
   
• Korea, South June 2019 CPI growth yy stays flat at 0.7 % (forecast 1 %) vs previous 0.7 %.
   
• Korea, South June 2019 CPI growth mm decrease to -0.2 % (forecast 0.1 %) vs previous 0.2 %.
   
• Seoul shares open down 0.36 pct.

We prefer to take short position on EUR/KRW only below 1,308, stop loss 1,320 and target of 1,294/1,287.