FxWirePro: South Korean won rises in early Asia despite higher than expected unemployment rate data

• EUR/KRW is currently trading around 1,323 mark. 

• It made intraday high at 1,332 and low at 1,323 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,333 mark.
   
• A sustained close above 1,333 will take the parity higher towards key resistances around 1,338, 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
   
• On the other side, a daily close below 1,330 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274 and 1,265 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
   
• South Korea’s kospi was trading 3.53 pct higher at 1,922.51 points.
   
• South Korea’s unemployment rate stands at 3.8 pct vs 3.3 pct previous release.

We prefer to take short position on EUR/KRW around 1,327, stop loss at 1,333 and target of 1,307/1,298.