- USD/KRW is currently trading around 1,167 levels.
- It made intraday high at 1,168 and low at 1,165 marks.
- Intraday bias remains neutral till the time pair holds key support at 1,165 levels.
- A daily close above 1,165 will drag the parity higher towards key resistances at 1,172, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
- On the other side, a sustained close below 1,165 will test key supports at 1,160/1,152/1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
EUR/KRW technical analysis:
- EUR/KRW rejects key support at 1,238 mark.
- Intraday bias for EUR/KRW turns bullish only above 1,242.
- Key supports are seen at 1,238, 1,229 and 1,222 marks respectively. On the other side, key resistances are seen at 1,242, 1,251, 1,260 and 1,269 marks respectively.
- Seoul shares open up 0.10 pct at 1980.38.
- South Korea October industrial output growth decreases to -1.7 % (forecast -0.1 %) vs previous 0.6 % (revised from 0.3 %).
- South Korea October industrial output y/y increases to -1.6 % (forecast -2 %) vs previous -1.7 % (revised from -2 %).
- South Korea October service sector output growth increases to -0.2 % vs previous -0.7 % (revised from -0.6 %).
We prefer to go short on USD/KRW only below 1,165, stop loss at 1,172 and target of 1,160/1,152.
