FxWirePro: South Korean won trades marginally lower as export – import price index data miss expectations

• EUR/KRW is currently trading around 1,323 mark.
   
• It made intraday high at 1,323 and low at 1,319 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,317 mark.
   
• A sustained close above 1,324 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,317 will drag the parity down towards key supports around 1,308, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• South Korea’s Kospi was trading 0.23 pct higher at 2,085.43 points.
   
• South Korea’s export price index data at -2.5 pct vs 0.4 pct previous release.
   
• South Korea’s import price index data at -0.4 pct vs 4.6 pct previous release.

We prefer to take long position on EUR/KRW around 1,323, stop loss 1,317 and target of 1,340/1,358.