Onshore KRW picks up roughly where it....>

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

infected.

- 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.