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FxWirePro: USD/THB exhibits range bound movement, Thailand’s CPI data in focus

  • USD/THB is currently trading around 32.78 marks.
     
  • It made intraday high at 32.81 and low at 32.72 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 32.51 will drag the parity down towards key supports around 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.
     
  • Thailand will release CPI as well as core CPI data at 0400 GMT.

We prefer to take short position n USD/THB only below 32.65, stop loss at 32.90 and target of 32.51/32.18.

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