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FxWirePro: Thai baht falls on the back of lower than expected GDP data

Monday, February 20, 2017 3:57 AM UTC

USD/THB is currently trading around 35.01 marks.
It made intraday high at 35.02 and low at 34.98 marks.
Intraday bias remains neutral till the time pair holds immediate support at 35.00 marks.
On the top side key resistances are seen at 35.11, 35.21, 35.33, 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.
Alternatively, a daily close below 34.99 will drag the parity down towards key supports around 34.85, 34.64, 34.51 and 34.20 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Thailand Q4 GDP +3.0 pct yr/yr (vs +3.0 pct in poll).
Thai Q4 GDP +0.4 pct q/q seasonally adjusted (vs +0.6 pct in poll).
Thai 2016 GDP growth at 3.

We prefer to take short position in USD/THB only below 34.99, stop loss 35.11 and target of 34.85.

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FxWirePro: Thai baht falls on the back of lower than expected GDP data

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