FxWirePro: South Korean won trades slightly lower despite robust export – import price index data

• EUR/KRW is currently trading around 1,321 mark.
   
• Pair made intraday high at 1,322 and low at 1,320 levels.
   
• Intraday bias remains neutral till the time pair holds immediate support at 1,320 mark.
   
• A sustained close above 1,320 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 1,320 will drag the parity down towards key supports around 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.
   
• Seoul shares open down 0.68 pct.
   
• Korea, South Feb unemployment rate stays flat at 3.6 % vs previos 3.6 %.
   
• Korea, South Feb import price growth y/y increase to 0.4 % vs previous -2.4 %.
   
• Korea, South Feb export price growth y/y increase to -1.3 % vs previous -3.7 % (revised from -3.5 %).

We prefer to take short position on EUR/KRW around 1,321, stop loss at 1,328 and target of 1,308/1,290.

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