FxWirePro: Thai baht rises gradually against U.S. dollar, Thailand’s repo rate decision in focus

• USD/THB is currently trading around 32.68 marks.
   
• It made intraday high at 32.71 and low at 32.67 marks.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at 32.83 mark.
   
• On the top side, key resistances are seen at 32.83, 32.92, 33.07, 33.15, 33.32 and 33.52 marks respectively.
   
• Alternatively, a daily close below 32.72 will drag the parity down towards key supports around 32.65, 32.57, 32.42, 32.20 and 32.07 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• BOT will release repo rate decision around 0705 GMT.

We prefer to take short position on USD/THB around 32.70, stop loss at 32.83 and target of 32.57/32.42.