FxWirePro: South Korean won trades marginally lower after mixed economic data

• EUR/KRW is currently trading around 1,288 mark.
   
• It made intraday high at 1,293 and low at 1,287 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,280 mark.
   
• A sustained close above 1,290 will take the parity higher towards key resistances around 1,302, 1,323, 1,347 and 1,363 marks respectively.
   
• On the other side, a daily close below 1,280 will drag the parity down towards key supports around 1,274, 1,265 and 1,244 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• South Korea’s kospi was trading 0.35 pct lower at 2,230.06 points.
   
• South Korea’s export price index data stands at -3.1 pct vs -6.5 pct previous release (expected -5.8 pct).
   
• South Korea’s import price index data stands at 3.4 pct vs -2.1 pct previous release (expected -2.2 pct).
   
• South Korea’s unemployment rate Dec stands at 3.8 pct vs 3.6 pct previous release (expected 3.6 pct).

We prefer to take short position on EUR/KRW around 1,290, stop loss at 1,295 and target of 1,280/1,274/1,265.