FxWirePro: South Korean won trades marginally lower as current account data misses expectations

• EUR/KRW is currently trading around 1,325 mark.
   
• It made intraday high at 1,327 and low at 1,323 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,321 mark.
   
• A sustained close above 1,330 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
   
• On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,317, 1,302, 1,294, 1,287, 1,278 and 1,268 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 up 0.83 pct.
   
• Korea, South April 2019 current account balance nsa decrease to -0.66 usd vs previous 4.82 usd.
   
• South Korea current account highly likely to return to surplus in May.
   
• South Korea sets first monthly current account deficit since April 2012.

We prefer to take short position on EUR/KRW only below 1,321, stop loss 1,332 and target of 1,302.