FxWirePro: South Korean won trades marginally lower after GDP data

• EUR/KRW is currently trading around 1,304 mark.
   
• Pair made intraday high at 1,304 and low at 1,302 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,304 mark.
   
• A sustained close above 1,303 will take the parity higher towards key resistances around 1,316, 1,321, 1,338, 1,351 and 1,377 marks respectively.
   
• On the other side, a daily close below 1,303 will drag the parity down towards key supports around 1,290, 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 Q2 GDP growth q/q decrease to 0.6 % (forecast 0.6 %) vs previous 1.1 %.
   
• South Korea Q2 GDP growth y/y decrease to 2.7 % (forecast 2.7 %) vs previous 2.9 %.

We prefer to take long position in EUR/KRW only above 1,304, stop loss at 1,290 and target of 1,321/1,338.

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