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FxWirePro: Thai baht trades flat ahead of BOT’s interest rate decision

  • USD/THB is currently trading around 30.53 marks.
     
  • It made intraday high at 30.55 and low at 30.50 marks.
     
  • Intraday bias remains neutral for the moment.
     
  • On the top side, key resistances are seen at 30.70, 30.97, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
     
  • Alternatively, a daily close below 30.47 will drag the parity down towards key supports around 30.35, 30.24, 30.12 and 30.02 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 interest rate decision at 0705 GMT.

We prefer to go long on USD/THB only above 30.60, stop loss at 30.47 and target of 30.70/30.97.

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