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

• EUR/KRW is currently trading around 1,300 mark.
   
• Pair made intraday high at 1,301 and low at 1,296 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,294 mark.
   
• A sustained close above 1,300 will take the parity higher towards key resistances around 1,315, 1,327  and 1,338 marks respectively.
   
• On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Korea, South June 2018 Nikkei markit manufacturing PMI increase to 49.8.
   
• Seoul shares open down 0.17 pct.

We prefer to take short position on EUR/KRW only below 1,294, stop loss at 1,302 and target of 1,286/1,277.