FxWirePro: South Korean won falls in early Asia as industrial output, service sector output data fail to match expectations

• EUR/KRW is currently trading around 1,329 mark.
   
• Pair made intraday high at 1,330 and low at 1,328 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,320 mark.
   
• A sustained close above 1,329 will take the parity higher towards key resistances around 1,338, 1,347 and 1,355 marks respectively.
   
• On the other side, a daily close below 1,329 will drag the parity down towards key supports around 1,320, 1,308, 1,302, 1,288, 1,272, 1,264, 1,248 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 down 0.40 pct.
   
• Korea, South Dec service sector output growth decrease to 0.2 % vs previous 2.5 %.
   
• Korea, South Dec industrial output growth decrease to -0.5 % vs previous 0.2 %.

We prefer to take long position on EUR/KRW around 1,326, stop loss at 1,320 and target of 1,338.

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