FxWirePro: South Korean won trades almost flat against euro despite robust CPI data

• EUR/KRW is currently trading around 1,326 mark.
   
• Pair made intraday high at 1,327 and low at 1,326 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,332 mark.
   
• A sustained close above 1,330 will take the parity higher towards key resistances around 1,338, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,326 will drag the parity down towards key supports around 1,315, 1,308, 1,298, 1,288, 1,272 and 1,264 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Seoul shares open up 1.08 pct.
   
• Korea, South Feb FX reserves decrease to 394.8 bln us vs previous 395.75 bln us.
   
• Korea, South Feb CPI growth increase to 0.8 % (forecast 0.5 %) vs previous 0.4 %
  .
• Korea, South Jan current account balance decrease to 2.68 bln us vs previous 4.09 bln us (revised from 4.66 bln us).
   
• South Korea says Feb core CPI +1.2 pct vs year earlier.

We prefer to take short position on EUR/KRW around 1,326, stop loss at 1,333 and target of 1,315.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest