FxWirePro: South Korean won depreciates in early Asia after export – import price index data

• EUR/KRW is currently trading around 1,368 mark. 

• It made intraday high at 1,368 and low at 1,352 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,336 mark.
   
• A sustained close above 1,351 will take the parity lower towards key resistances around 1,374, 1,390, 1,400, 1,408 and 1,428 marks respectively.
   
• On the other side, a daily close below 1,336 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 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 7.35 pct lower at 1,699.07 points.
   
• South Korea’s export price index stands at -1.8 pct vs -2.5 pct previous release (expected -2.6 pct).
   
• South Korea’s import price index stands at -0.9 pct vs 2.7 pct previous release (expected 4.6 pct).

We prefer to take long position on EUR/KRW around 1,362, stop loss at 1,350 and target of 1,374/1,390/1,400.