FxWirePro: South Korean won trades marginally lower as consumer confidence data misses expectations

• EUR/KRW is currently trading around 1,293 mark.
   
• It made intraday high at 1,294 and low at 1,292 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,290 mark.
   
• A sustained close above 1,302 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
   
• On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,274, 1,265, 1,244, 1,212 and 1,200 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 0.24 point higher at 2,126.55.
   
• South Korea’s consumer confidence Nov stands at 100.9 vs 98.6 previous release (expected 103.0).

We prefer to take short position on EUR/KRW only below 1,290, stop loss at 1,302 and target of 1,274/1,265.