how do i make this watery pad??

[046oh]

the one around 0:10
https://soundcloud.com/cristalinodinosongs/electro-happy#t=0:10

i tried with sine + noise on synth 1, but i'm not getting the "watery" sound.
where does the water quality come from anyway?
is it the noise?
or is it the modulation of something?

thanks!