FxWirePro: South Korean won trades marginally lower after mixed economic data

• EUR/KRW is currently trading around 1,327 mark.
   
• Pair made intraday high at 1,327 and low at 1,325 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,320 mark.
   
• A sustained close above 1,325 will take the parity higher towards key resistances around 1,338, 1,356, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,325 will drag the parity down towards key supports around 1,315, 1,308, 1,298, 1,288, 1,272 and 1,264 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Korea, South Feb Nikkei Markit manufacturing PMI decrease to 50.3 vs previous 50.7.
   
• Korea, South Jan industrial output growth increase to 1 % (forecast 2 %) vs previous -1.7 % (revised from -0.5 %).
   
• Korea, South Jan service sector output growth increase to 0.8 % vs previous -0.2 % (revised from 0.2 %).
   
• Seoul shares open down 0.86 pct.

We prefer to take long position on EUR/KRW around 1,325, stop loss at 1,315 and target of 1,356.

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