FxWirePro: South Korean won falls in early hours of Asia; hits lowest level since late July

• USD/KRW is currently trading around 1,140 levels.
   
• It made intraday high at 1,141 and low at 1,135 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 1,125 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 1,124 will test key supports at 1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
   
• In addition, South Korea’s Kospi was trading around 0.41 percent lower at 2,014.46 points.
   
• South Korea September export growth revised stays flat at -5.9 % vs previous -5.9 %.
   
• South Korea September import growth revised increase to -1.7 % vs previous -2.3 %.
   
• South Korea September trade balance revised decrease to 6.9 bln $ vs previous 7.10 bln $.

We prefer to go long on USD/KRW only above 1,142, stop loss 1,124 and target 1,152/1,176.