2016.10.2421:28:00UTC+00Fxwirepro: South Korean Won falls After Gdp Data, Bias Remains Bullish

• USD/KRW is currently trading around 1,136 levels.
   
• It made intraday high at 1,138 and low at 1,135 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 1,130 levels.
   
• A daily close above 1,135 will drag the parity higher towards key resistances at 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
   
• On the other side, a sustained close below 1,130 will test key supports at 1,122/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
   
• In addition, South Korea’s Kospi was trading around 0.59 percent lower at 2,035.52 points.
   
• South Korea’s Q3 GDP growth y/y decreases to 2.7 % (forecast 2.6 %) vs previous 3.3 %.
   
• South Korea’s Q3 GDP growth Q/Q decreases to 0.7 % (forecast 0.6 %) vs previous 0.8 %.

We prefer to go long on USD/KRW only above 1,138, stop loss 1,125 and target 1,152/1,168.