FxWirePro: South Korean won trades marginally higher on robust current account, FX reserves data

• EUR/KRW is currently trading around 1,343 mark.
   
• Pair made intraday high at 1,345 and low at 1,341 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,349 mark.
   
• A sustained close above 1,349 will take the parity higher towards key resistances around 1,356, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,345 will drag the parity down towards key supports around 1,338, 1,326, 1,320, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 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 July current account balance increases to 7.02 bln USD vs previous 5.08 bln USD.
   
• South Korea August FX reserves increase to 384.84 bln USD vs previous 383.76 bln USD.
   
• Seoul shares open up 0.47 pct.

We prefer to take long position on EUR/KRW only above 1,349, stop loss at 1,338 and target of 1,363.

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