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FxWirePro: Thai baht trades flat ahead of manufacturing production data

  • USD/THB is currently trading around 31.55 marks.
     
  • It made intraday high at 31.56 and low at 31.52 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 31.43 mark.
     
  • On the top side, key resistances are seen at 31.57, 31.70, 31.93, 32.02, 32.10, 32.22 and 32.48 marks respectively.
     
  • Alternatively, a daily close below 31.52 will drag the parity down towards key supports around  31.46, 31.24 and 31.10 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 manufacturing production data at 0400 GMT.

We prefer to take short position on USD/THB only below 31.52, stop loss at 31.70 and target of 31.24 mark.

  • Market Data
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