FxWirePro: South Korean won remains almost unchanged after export – import price index data

• EUR/KRW is currently trading around 1,280 mark.
   

• It made intraday high at 1,283 and low at 1,280 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1,291 mark.
   
• A sustained close above 1,281 will take the parity higher towards key resistances around 1,290, 1,302, 1,324, 1,332, 1,347 and 1,363 marks respectively.
   
• On the other side, a daily close below 1,281 will drag the parity down towards key supports around 1,274, 1,265 and 1,244 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
   
• South Korea’s kospi was trading 0.30 pct higher at 2,239.40 points.
   
• South Korea’s export price index y/y stands at -2.7 pct vs -3.1 pct previous release (expected -1.5).
   
• South Korea’s import price index y/y stands at 2.7 pct vs 3.4 pct previous release (expected 2.6).

We prefer to take short position on EUR/KRW around 1,282, stop loss at 1,290 and target of 1,274/1,265.