FxWirePro: South Korean won trades marginally lower against euro after PPI data

• EUR/KRW is currently trading around 1,330 mark.
   
• Pair made intraday high at 1,332 and low at 1,329 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,338 mark.
   
• A sustained close above 1,338 will take the parity higher towards key resistances around 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,327 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.
   
• Seoul shares open up 0.33 pct.
   
• South Korea Sep PPI growth y/y increase to 3.6 % vs previous 3.3 % (revised from 3.2 %).
   
• South Korea Sep PPI growth stays flat at 0.5 % vs previous 0.5 % (revised from 0.3 %).

We prefer to take short position on EUR/KRW only below 1,327, stop loss at 1,338 and target of 1,313.

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