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- EUR/KRW is currently trading around 1,349 mark.
- Pair made intraday high at 1,349 and low at 1,348 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,342 mark.
- A sustained close above 1,348 will take the parity higher towards key resistances around 1,355, 1,363, 1,377 and 1,390 marks respectively.
- On the other side, a daily close below 1,348 will drag the parity down towards key supports around 1,342, 1,337, 1,326, 1,320, 1,313 and 1,302 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 up 0.23 pct.
- South Korea August industrial output growth decrease to 0.4 % vs previous 1.7 % (revised from 1.9 %).
- South Korea August service sector output growth decrease to 0.1 % vs previous 0.6 %.
- South Korea August current account balance decreases to 6.27 bln USD vs previous 7.02 bln USD.
- South Korea August industrial output y/y increase to 2.7 % vs previous -0.2 % (revised from 0.1 %).
We prefer to take long position on EUR/KRW only above 1,351, stop loss at 1,342 and target of 1,363.
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