FxWirePro: South Korean won gains in early Asia after mixed economic data

• EUR/KRW is currently trading around 1,319 mark.
   
• Pair made intraday high at 1,322 and low at 1,318 levels.
   
• Intraday bias remains neutral till the time pair holds immediate support at 1,313 mark.
   
• A sustained close above 1,322 will take the parity higher towards key resistances around 1,338, 1,351 and 1,377 marks respectively.
   
• On the other side, a daily close below 1,322 will drag the parity down towards key supports around 1,313, 1,302, 1,290, 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 July core CPI +1.8 pct vs year earlier.
   
• South Korea July CPI growth m/m increase to 0.2 % vs previous -0.1 %.
   
• South Korea July trade balance prelim decrease to 10.65 bln $ vs previous 10.77 bln $.
   
• South Korea July Nikkei Markit manufacturing PMI decrease to 49.1 vs previous 50.1.
   
• Seoul shares open down 0.23 pct.

We prefer to take long position on EUR/KRW only above 1,322, stop loss at 1,313 and target of 1,338/1,351.

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