FxWirePro: South Korean won slightly higher against euro on robust manufacturing PMI data

• EUR/KRW is currently trading around 1,200 mark.
   
• Pair made intraday high at 1,203 and low at 1,200 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,199 mark.
   
• A daily close below 1,201 will drag the parity down towards key supports around 1,191, 1,184, 1,178 and 1,163 marks respectively.
   
• Alternatively, a sustained close above 1,201 will take the parity higher towards key resistances around 1,208, 1,221, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
   
• South Korea February Nikkei markit manufacturing PMI increase to 49.2 vs previous 49.0.
   
• South Korea January service sector output growth increase to 0.5 % vs previous 0.4 % (revised from 0.3 %).
   
• South Korea January industrial output yy decrease to 1.7 % (forecast 2.6 %) vs previous 4.2 % (revised from 4.3 %).

We prefer to take short position in EUR/KRW only below 1,199, stop loss at 1,208 and target of 1,184.