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FxWirePro: South Korean won unchanged despite better than expected GDP data

Friday, March 25, 2016 2:12 AM UTC

USD/KRW is currently trading around 1168 levels.
It made intraday high at 1169 and low at 1167 levels.
Today South Korea released GDP data with positive numbers at 0.7% q/q vs 0.6% previous release.
Intraday bias remains bearish till the time pair holds key resistance at 1172 levels. A break above targets key resistances at 1180/1193/1201 marks.
A sustained close below 1153 tests 1142/1129 marks thereafter.

We prefer to take short position in USD/KRW around 1170, stop loss 1172 and target 1153 levels.

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FxWirePro: South Korean won unchanged despite better than expected GDP data

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