FxWirePro: South Korean won hits strongest level against euro since May 2015

• EUR/KRW is currently trading around 1,207 mark.
   
• Pair made intraday high at 1,207 and low at 1,202 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close below 1,202 will drag the parity down towards key supports around 1,199, 1,178 and 1,163 marks respectively.
   
• Alternatively, reversal from key support will take the parity higher towards key resistances around 1,210, 1,218, 1,225, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
   
• South Korea’s January export growth revised stays flat at 11.2 % vs previous 11.2 %.
   
• South Korea’s January import growth revised increase to 19.7 % vs previous 18.6 %.
   
• South Korea’s January trade balance revised decrease to 2.8 bln $ vs previous 3.20 bln $.

We prefer to take short position in EUR/KRW around 1,210, stop loss at 1,220 and target of 1,199/1,190.