FxWirePro: South Korean won trades marginally lower as trade balance data fails to meet expectations

• EUR/KRW is currently trading around 1,349 mark.
   
• Pair made intraday high at 1,352 and low at 1,348 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,343 mark.
   
• A sustained close above 1,349 will take the parity higher towards key resistances around 1,355, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,349 will drag the parity down towards key supports around 1,343, 1,334, 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.
   
• Seoul shares open down 0.39 pct.
   
• South Korea August export growth revised decrease to 17.3 % vs previous 17.4 %.
   
• South Korea August import growth revised increase to 15.3 % vs previous 14.2 %.
   
• South Korea August trade balance revised decrease to 6.60 bln usd vs previous 7.01 bln usd.

We prefer to take long position on EUR/KRW around 1,347, stop loss at 1,340 and target of 1,355/1,363.

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