FxWirePro: South Korean won trades almost flat against euro despite robust GDP data

• EUR/KRW is currently trading around 1,328 mark.
   
• Pair made intraday high at 1,330 and low at 1,327 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,325 mark.
   
• A sustained close above 1,330 will take the parity higher towards key resistances around 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,325 will drag the parity down towards key supports around 1,320, 1,313 and 1,302 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.
   
• Seoul shares open down 0.12 pct.
   
• South Korea Q3 GDP growth Q/Q advance increase to 1.4 % vs previous 0.6 %.
   
• South Korea Q3 GDP growth y/y advance increase to 3.6 % vs previous 2.7 %.

We prefer to take short position on EUR/KRW only below 1,325, stop loss at 1,338 and target of 1,313.

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