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

• EUR/KRW is currently trading around 1,340 mark. 

• It made intraday high at 1,342 and low at 1,337 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,336 mark.
   
• A sustained close above 1,340 will take the parity lower towards key resistances around 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
   
• On the other side, a daily close below 1,329 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274 and 1,265 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
   
• South Korea’s kospi was trading 1.11 pct higher at 1,705.74 points.
   
• South Korea’s consumer confidence stands at 78.4 vs 96.9 previous release.

We prefer to take short position on EUR/KRW only below 1,337, stop loss at 1,350 and target of 1,307/1,298.