FxWirePro: USD/KRW remains well supported above 1,100 mark, bias remains neutral

• USD/KRW is currently trading around 1,109 levels.
   
• It made intraday high at 1,110 and low at 1,107 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 1,102 levels.
   
• A daily close above 1,112 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 1,102 will test key supports at 1,090/1,078/1,063/1,044 levels respectively.
   
• In addition, South Korea’s Kospi was trading around 0.51 percent higher at 2,001.22 points.
   
• South Korea’s August import price growth y/y decrease to -8.5 % vs previous -7.1 %.
   
• South Korea’s August export price growth y/y decrease to -9.7 % vs previous -7.4 % (revised from -7.5 %).
   
• South Korea’s August unemployment rate increase to 3.8 % vs previous 3.6 %.
   
• South Korea’s August trade balance revised decrease to 5.1 bln $ vs previous 5.30 bln $.

We prefer to go long on USD/KRW only above 1,112 with stop loss at 1,102 and target of 1,125/1,142.