FxWirePro: EUR/KRW exhibits range bound movement, bias remains neutral

• EUR/KRW is currently trading around 1,303 mark.
   
• Pair made intraday high at 1,305 and low at 1,303 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,311 marks.
   
• A sustained close above 1,303 will take the parity higher towards key resistances around 1,311, 1,338, 1,351 and 1,377 marks respectively.
   
• On the other side, a daily close below 1,303 will drag the parity down towards key supports around 1,292, 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 0.15 pct.
   
• South Korea June FX reserves increase to 380.57 bln $ vs previous 378.46 bln $.
   
• South Korea May current account balance decrease to 4.52 bln $ vs previous 6.70 bln $ (revised from 6.80 bln $).

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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