FxWirePro: South Korean won trades marginally lower despite higher than expected consumer sentiment index

• EUR/KRW is currently trading around 1,267 mark.
   
• Pair made intraday high at 1,268 and low at 1,265 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,265 marks.
   
• A sustained close above 1,272 will take the parity higher towards key resistances around 1,287 and 1,304 marks respectively.
   
• On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,255, 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. Current downside movement is short term trend correction only.
   
• South Korea June consumer sentiment index increase to 111.1 vs previous 108.0.
   
• Seoul shares open down 0.08 pct at 2386.76.

We prefer to take short position in EUR/KRW only below 1,265, stop loss at 1,277 and target of 1,248.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest