FxWirePro: South Korean won trades almost flat against euro despite robust export – import price index data

• EUR/KRW is currently trading around 1,309 mark.
   
• Pair made intraday high at 1,309 and low at 1,308 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 1,309 will take the parity higher towards key resistances around 1,309, 1,327, 1,338 and 1,358 marks respectively.
   
• On the other side, a daily close below 1,309 will drag the parity down towards key supports around 1,302, 1,294, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 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 0.35 pct.
   
• Korea, South June export price growth yy increase to 1.6 % vs previous 0.4 % (revised from 0.1 %).
   
• Korea, South June import price growth yy increase to 10.9 % vs prev 8.1 % (revised from 8.1 %).

We prefer to take short position on EUR/KRW around 1,309, stop loss at 1,315 and target of 1,299.