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FxWirePro: Thai baht trades almost flat in early Asia, bias remains neutral

  • USD/THB is currently trading around 32.77 marks.
     
  • It made intraday high at 32.80 and low at 32.73 marks.
     
  • Intraday bias remains neutral for the moment.
     
  • On the top side, key resistances are seen at 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
     
  • Alternatively, a daily close below 32.66 will drag the parity down towards key supports around 32.51, 32.18, 32.02 and 31.85 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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