FxWirePro: South Korean won steady around 1176 after unemployment rate, trade balance data

• USD/KRW is currently trading around 1176 levels.
   
• It made intraday high at 1180 and low at 1176 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 1162 marks.  
   
• A sustained close below 1162 will tests key supports at 1152, 1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
   
• Alternatively, a daily close above 1176 will drag the parity higher towards key resistances at 1182, 1196 (June 01, 2016 high), 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
   
• South Korea’s May unemployment rate stays flat at 3.7 % vs previous 3.7 %. In addition trade balance revised decrease to 7.0 bln $ vs previous 7.10 bln $.
   
• South Korea’s May import growth revised increase to -9 % vs previous -9.3 % and export growth revised stays flat at -6 % vs previous -6 %.
   
• In addition, South Korea’s Kospi was trading flat at 1,972.17 points.

We prefer to take long position in USD/KRW only above 1176, stop loss 1162 and target 1182 marks.