FxWirePro: South Korean won trades flat as Nikkei manufacturing PMI data misses expectations

• EUR/KRW is currently trading around 1,324 mark.
   
• It made intraday high at 1,325 and low at 1,323 levels.
   
• Intraday bias remains neutral till the time pair holds immediate resistance at 1,324 mark.
   
• A sustained close above 1,324 will take the parity higher towards key resistances around 1,334, 1,347 and 1,363 marks respectively.
   
• On the other side, a daily close below 1,324 will drag the parity down towards key supports around 1,310, 1,290, 1,282, 1,274, 1,265 and 1,244 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA up down and confirms the bullish trend in a daily chart.
   
• South Korea’s manufacturing PMI stands at 49.8 vs 50.1 previous release.
   
• South Korea’s kospi was trading 0.33 pct lower at 2,111.98 points.

We prefer to take long position on EUR/KRW only above 1,325, stop loss at 1,310 and target of 1,347/1,363.