FxWirePro: South Korean won falls despite higher than expected manufacturing BSI index

• EUR/KRW is currently trading around 1,347 mark.
   
• Pair made intraday high at 1,348 and low at 1,336 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,320 mark.
   
• A sustained close above 1,338 will take the parity higher towards key resistances around 1,349, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,338 will drag the parity down towards key supports around 1,326, 1,320, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• South Korea September BOK manufacturing BSI increase to 84 vs previous 81.
   
• Seoul shares open down 0.59 pct.

We prefer to take long position on EUR/KRW only above 1,349, stop loss at 1,334 and target of 1,363/1,377.

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