FxWirePro: USD/KRW almost flat despite higher than expected GDP data

• USD/KRW is currently trading around 1,118 levels.
   
• It made intraday high at 1,119.30 and low at 1,118.40 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 1,107 levels.
   
• A sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
   
• Alternatively, a daily close above 1,128 will drag the parity higher towards key resistances at 1,128, 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.
   
• In addition, South Korea’s Kospi was trading around 0.05 percent lower at 2,032.32 points.
   
• South Korea’s Q2 GDP growth increases to 0.8 % vs previous 0.7 %.
   
• South Korea’s Q2 GDP growth y/y increases to 3.3 % vs previous 3.2 %.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.