FxWirePro: South Korean won remains almost unchanged after PPI data

• EUR/KRW is currently trading around 1,305 mark.
   
• It made intraday high at 1,307 and low at 1,305 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,302 mark.
   
• A sustained close above 1,319 will take the parity higher towards key resistances around 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
   
• On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278 and 1,268 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• South Korea’s Kospi was trading 0.90 point higher at 2,083.32.
   
• South Korea PPI m/m stands at 0.1 pct vs 0.2 pct previous release (expected 0.3 pct).
   
• South Korea PPI y/y stands at -0.7 pct vs -0.6 pct previous release (expected -0.7 pct).

We prefer to take short position on EUR/KRW only below 1,305, stop loss at 1,315 and target of 1,294/1,287.