FxWirePro: South Korean won trades marginally higher on robust export – import price index data

• EUR/KRW is currently trading around 1,316 mark.
   
• Pair made intraday high at 1,318 and low at 1,316 levels.
   
• Intraday bias remain neutral till the time pair holds key support at 1,315 mark.
   
• A sustained close above 1,317 will take the parity higher towards key resistances around 1,332, 1,340, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,313 will drag the parity down towards key supports around 1,305, 1,298, 1,291, 1,273, 1,264, 1,242 and 1,222 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Seoul shares open up 0.27 pct.
   
• Korea, South March import price growth y/y increase to 3.1 % vs previous 0.4 % (revised from 0.4 %).
   
• Korea, South March export price growth yy increase to -0.9 % vs previous -1.3 % (revised from -1.3 %).

We prefer to take short position on EUR/KRW only below 1,315, stop loss at 1,325 and target of 1,308/1,298.

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