FxWirePro: South Korean won marginally lower after trade balance data

• EUR/KRW is currently trading around 1,204 mark.
   
• Pair made intraday high at 1,204 and low at 1,201 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,203 mark.
   
• A daily close below 1,203 will drag the parity down towards key supports around 1.201, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
   
• Alternatively, a sustained close above 1,203 will take the parity higher towards key resistances around 1,207, 1,211, 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively.
   
• Seoul shares open up 0.28 pct at 2140.87.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• South Korea’s March export growth revised decrease to 13.6 % vs previous 13.7 %.
   
• South Korea’s March import growth revised increase to 27.7 % vs previous 26.9 %.
   
• South Korea’s March trade balance revised decrease to 6.27 bln $ vs previous 6.60 bln $.

We prefer to take long position in EUR/KRW around 1,203, stop loss at 1,200 and target of 1,208/1,211/1,218.