FxWirePro: South Korean won trades marginally lower despite higher than expected consumer sentiment index

• EUR/KRW is currently trading around 1,299 mark.
   
• Pair made intraday high at 1,299 and low at 1,295 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,290 mark.
   
• A sustained close above 1,295 will take the parity higher towards key resistances around 1,305, 1,316, 1,321, 1,338, 1,351 and 1,377 marks respectively.
   
• On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• South Korea July consumer sentiment index increase to 111.2 vs previous 111.1.
   
• Seoul shares open down 0.03 pct at 2450.76.

We prefer to take long position in EUR/KRW only above 1,305, stop loss at 1,290 and target of 1,321/1,338.

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