- USD/THB is currently trading around 31.13 marks.
- It made intraday high at 31.18 and low at 30.98 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.97 mark.
- On the top side, key resistances are seen at 31.25, 31.37, 31.50, 31.70 and 31.92 marks respectively.
- Alternatively, a daily close below 30.97 will drag the parity down towards key supports around 30.87, 30.70, 30.56, 30.37, 30.15, 29.96 and 29.72 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Thailand’s CPI y/y stands at 1.05 pct vs 0.87 pct previous release (expected 0.96).
- Thailand’s core CPI y/y stands at 0.47 pct vs 0.49 pct previous release (expected 0.50).
We prefer to go long on USD/THB around 31.10, stop loss at 30.97 and target of 31.25/31.37.
