FxWirePro: South Korean won trades almost flat against major peers as BOK keeps base rate steady

• EUR/KRW is currently trading around 1,317 mark.
   
• Pair made intraday high at 1,319 and low at 1,317 levels.
   
• Intraday bias remain slightly bullish till the time pair holds key support at 1,308 mark.
   
• A sustained close above 1,317 will take the parity higher towards key resistances around 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,317 will drag the parity down towards key supports around 1,308, 1,298, 1,291, 1,273, 1,264, 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 0.28 pct.
   
• Korea, South April BOK base rate stays flat at 1.5 % vs previous 1.5 %.

We prefer to take short position on EUR/KRW only below 1,315, stop loss at 1,322 and target of 1,308/1,298.

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