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FxWirePro: Thai baht falls in early Asia ahead of consumer confidence index data

  • USD/THB is currently trading around 32.80 marks.
     
  • It made intraday high at 32.82 and low at 32.71 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 32.70 mark.
     
  • On the top side, key resistances are seen at 32.94, 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 up and confirms the bullish trend in a daily chart.
     
  • Thailand will release consumer confidence index data at 0330 GMT.

We prefer to take short position on USD/THB around 32.85, stop loss 32.94 and target of 32.65/32.57.

  • Market Data
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