FxWirePro: South Korean won falls gradually against euro, stay bullish

• EUR/KRW is currently trading around 1,333 mark.
   
• Pair made intraday high at 1,334 and low at 1,328 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,321 mark.
   
• A sustained close above 1,330 will take the parity higher towards key resistances around 1,338, 1,351 and 1,377 marks respectively.
• On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,313, 1,302, 1,290, 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.
   
• South Korea June current account balance increase to 5.08 bln $ vs previous 4.52 bln $.
   
• South Korea July FX reserves increase to 383.76 bln $ vs previous 380.57 bln $.
   
• Seoul shares open down 0.18 pct.

We prefer to take long position on EUR/KRW around 1,330, stop loss at 1,321 and target of 1,351.

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