FXWIREPRO: South Korean Won Unchanged Despite Better Than expected GDP Data

FXWIREPRO: South Korean Won Unchanged Despite Better Than expected GDP Data

25 March 2016, 05:38
Roberto Jacobs
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FXWIREPRO: South Korean Won Unchanged Despite Better Than expected GDP Data

  • 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.

The material has been provided by InstaForex Company - www.instaforex.com

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