FxWirePro: Thai baht falls after CPI, core CPI data

• USD/THB is currently trading around 33.96 marks.
   
• It made intraday high at 33.97 and low at 33.91 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 33.90 mark.
   
• On the top side, key resistances are seen at 34.02, 34.27, 34.34, 34.48, 34.55, 34.67, 34.74, 34.82, 34.97, 35.11 and 35.20 marks respectively.
   
• Alternatively, a daily close below 33.90 will drag the parity down towards key supports around 33.82, 33.74, 33.58, 33.01 and 32.54 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Thai June core CPI +0.45 pct on year (vs +0.45 pct in poll).
   
• Thai June headline CPI -0.05 pct on year (vs -0.10 pct in poll).

We prefer to take long position in USD/THB only above 34.00, stop loss 33.82 and target of 34.27.

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