FxWirePro: South Korean won trades flat against euro on the back of lower than expected CPI data

• EUR/KRW is currently trading around 1,343 mark.
   
• Pair made intraday high at 1,344 and low at 1,340 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,337 mark.
   
• A sustained close above 1,343 will take the parity higher towards key resistances around 1,349, 1,355, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,343 will drag the parity down towards key supports around 1,337, 1,326, 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.
   
• Seoul shares open up 0.06 pct.
   
• South Korea September CPI growth y/y decrease to 2.1 % vs previous 2.6 %.
   
• South Korea September CPI growth decrease to 0.1 % vs previous 0.6 %.

We prefer to take long position on EUR/KRW only above 1,344, stop loss at 1,337 and target of 1,355.

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