FxWirePro: South Korean won falls after BoK keeps interest rate unchanged

• USD/KRW is currently trading around 1,101 levels.
   
• It made intraday high at 1,102 and low at 1,099 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 1,090 levels.
   
• A daily close above 1,107 will drag the parity higher towards key resistances at 1,122, 1,138, 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 1,090 will test key supports at 1,078/1,063/1044 levels respectively.
   
• In addition, South Korea’s Kospi was trading around 1.26 percent lower at 2,038.12 points.
   
• South Korea September BoK base rate stays flat at 1.25 % (forecast 1.25 %) vs previous 1.25 %.
   
• South Korea Central Bank: Uncertainty remains high over growth path.
   
• South Korea Central Bank: Sentiment in economy has improved slightly.
   
• South Korea Central Bank: Inflation to gradually rise.
   
• South Korea Central Bank: Local economy seen maintaining gradual recovery.

We prefer to go long on USD/KRW only above 1,107 with stop loss at 1,090 and target of 1,122/1,142.