FxWirePro: South Korean won marginally higher on robust current account data

• EUR/KRW is currently trading around 1,259 mark.
   
• Pair made intraday high at 1,260 and low at 1,258 levels.
   
• Intraday bias remains neutral for the moment.


• A daily close below 1,259 will drag the parity down towards key supports around 1,256, 1,247, 1,242, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
   
• Alternatively, a sustained close above 1,259 will take the parity higher towards key resistances around 1,263, 1,274, 1,287 and 1,304 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 April current account balance increase to 6.8 bln $ vs previous 4.9 bln $ (revised from 5.07 bln $).
   
• Seoul shares open up 0.21 pct at 2376.66.

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.