FxWirePro: South Korean won trades marginally lower despite higher than expected current account data

• EUR/KRW is currently trading around 1,281 mark.
   
• Pair made intraday high at 1,281 and low at 1,279 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,284 mark.
   
• A sustained close above 1,284 will take the parity higher towards key resistances around 1,296, 1,302, 1,313, 1,327, 1,338, 1,347 and 1,355 marks respectively.
   
• On the other side, a daily close below 1,275 will drag the parity down towards key supports around 1,264, 1,253 and 1,234 marks respectively.
   
• 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.
   
• Seoul shares open up 0.42 pct.
   
• Korea, South Nov current account balance increase to 5.67 bln us vs prev 5.01 bln us.
   
• Korea, South Nov current account balance increase to 5.67 bln us vs prev 5.01 bln us.

We prefer to take long position on EUR/KRW only above 1,284, stop loss at 1,275 and target of 1,296/1,302.

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