FxWirePro: South Korean won trades marginally higher despite lower than expected manufacturing PMI data

• EUR/KRW is currently trading around 1,280 mark.
   
• It made intraday high at 1,282 and low at 1,278 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,282 mark.
   
• A sustained close above 1,282 will take the parity higher towards key resistances around 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,265 will drag the parity down towards key supports around  1,257, 1,246 and 1,234 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Korea, South Feb 2019 Nikkei markit manufacturing PMI decrease to 47.2 vs previous 48.3.
   
• Seoul shares open up 0.71 pct.

We prefer to go long on EURKRW only above 1,282, stop loss at 1,270 and target of 1,294/1,302.