FxWirePro: South Korean won remains almost unchanged despite lower than expected manufacturing BSI index

 

• EUR/KRW is currently trading around 1,344 mark.
   
• It made intraday high at 1,344 and low at 1,342 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 1,353 will take the parity higher towards key resistances around 1,363, 1,373, 1,410 and 1,434 marks respectively.
   
• On the other side, a daily close below 1,332 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 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 Sept manufacturing BSI index at 71 vs 74 previous release.
   
• South Korea’s Kospi was trading 0.23 pct lower at 1,936.23 point.  

We prefer to take short position on EUR/KRW only below 1,342, stop loss 1,358 and target of 1,332/1,311.