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 wi…
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.
