FxWirePro: South Korean won trades marginally lower against euro as BOK keeps base rate unchanged

• EUR/KRW is currently trading around 1,301 mark.
   
• Pair made intraday high at 1,301 and low at 1,296 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,296 marks.
   
• A sustained close above 1,396 will take the parity higher towards key resistances around 1,305, 1,316, 1,321, 1,338, 1,351 and 1,377 marks respectively.
   
• On the other side, a daily close below 1,296 will drag the parity down towards key supports around 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 July BOK base rate stays flat at 1.25 % (forecast 1.25 %) vs previous 1.25 %.
   
• Seoul shares open up 0.58 pct and hits record-high at over 2,400 points.

We prefer to take long position on EUR/KRW around 1,300, stop loss at 1,295 and target of 1,316/1,338/1,346.

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