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KOREAN WON: Onshore KRW picks up roughly where it finished yesterday, with
USD/KRW little changed at KRW1,227.65. South Korea reported April terms of trade
this morning, with export & import price indices extended declines.
- There is an ongoing worry about a swelling cluster of new coronavirus cases in
Seoul, with authorities struggling to track down all people who might have been
- Bulls continue to target May 4 high of KRW1,229.95 and a break here would
expose Apr 21 high of KRW1,240.90. Coming up next we have Apr 2 high of
KRW1,242.55 and a clearance of this level is needed to give bulls some impetus.
Bears look for a fall through May 11 low of KRW1,214.35, before targeting Apr
10/Mar 27 lows of KRW1,206.90/1,205.20.