FxWirePro: South Korean won trades almost flat against euro after mixed economic data

• EUR/KRW is currently trading around 1,274 mark.
   
• Pair made intraday high at 1,275 and low at 1,274 levels.
   
• Intraday bias remains neutral till the time pair holds immediate support at 1,267 mark.
   
• A sustained close above 1,274 will take the parity higher towards key resistances around 1,285, 1,294, 1,302, 1,315, 1,327, 1,332 and 1,340 marks respectively.
   
• On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,267, 1,242 and 1,222 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Seoul shares open up 0.03 pct.
   
• Korea, South April import price growth yy increase to 4 % vs prev 3.2 % (revised from 3.1 %).
   
• Korea, South April export price growth yy decrease to -2 % vs prev -1.4 % (revised from -0.9 %).

We prefer to take short position on EUR/KRW only below 1,273, stop loss at 1,285 and target of 1,252.

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