FxWirePro: South Korean won depreciates as industrial outout, service sector output data miss expectations

• EUR/KRW is currently trading around 1,274 mark.
   
• It made intraday high at 1,275 and low at 1,273 levels.
   
• Intraday bias remains slightly bullish for the moment.
   
• A sustained close above 1,274 will take the parity higher towards key resistances around 1,282, 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,265, 1,257, 1,246 and 1,234 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 0.49 pct.
   
• Korea, South Feb 2019 industrial output yy decrease to -2.7 % (forecast -0.5 %) vs previous -0.2 % (revised from 0.1 %).
   
• Korea, South Feb 2019 industrial output growth decrease to -2.6 % (forecast -0.9 %) vs previous 0.2 % (revised from 0.5 %).
   
• Korea, South Feb 2019 service sector output growth decrease to -1.1 % vs previous 1.1 % (revised from 0.9 %).

We prefer to take short position on EUR/KRW only below 1,272, stop loss 1,282 and target of 1,265/1,257.