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FxWirePro: Thai baht trades almost flat ahead of trade balance data

  • USD/THB is currently trading around 30.84 marks.
     
  • It made intraday high at 30.88 and low at 30.83 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 30.70 marks.
     
  • On the top side, key resistances are seen at 30.90, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
     
  • Alternatively, a daily close below 30.56 will drag the parity down towards key supports around 30.42, 30.28 and 30.12 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
  • Thailand will release trade balance data around 0330 GMT.

We prefer to take long position on USD/THB only above 30.90, stop loss at 30.70 and target of 31.20/31.50.

By Aarti Panchal
  • Market Data
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