FxWirePro: South Korean won trades almost flat against euro after mixed economic data from South Korea

• EUR/KRW is currently trading around 1,310 mark.
   
• Pair made intraday high at 1,310 and low at 1,307 levels.
   
• Intraday bias neutral till the time pair holds key resistance at 1,311 marks.
   
• A sustained close above 1,309 will take the parity higher towards key resistances around 1,338, 1,351 and 1,377 marks respectively.
   
• On the other side, a daily close below 1,309 will drag the parity down towards key supports around 1,292, 1,277, 1,265, 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.
   
• South Korea’s May service sector output growth decrease to -0.3 % vs prev 0.1 %.
   
• South Korea’s May industrial output y/y decrease to 0.1 % (forecast 0.2 %) vs prev 1.8 % (revised from 1.7 %).
   
• South Korea’s May industrial output growth increase to 0.2 % (forecast 1.5 %) vs previous -2.2 %.
   
• Seoul shares open down 0.56 pct at 2382.15.

We prefer to take long position in EUR/KRW only above 1,311, stop loss at 1,292 and target of 1,338.

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