FxWirePro: South Korean won trades marginally higher despite lower than expected BSI manufacturing index

• EUR/KRW is currently trading around 1,315 mark.
   
• It made intraday high at 1,318 and low at 1,315 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,322 mark.
   
• A sustained close above 1,318 will take the parity higher towards key resistances around 1,328, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,310 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• South Korea’s Kospi was trading 0.53 pct higher at 2,040.45 points.
   
• South Korea’s BSI manufacturing Index at 74 vs 76 previous release.
   

We prefer to take short position on EUR/KRW around 1,318, stop loss 1,325 and target of 1,302.