FxWirePro: Thai baht falls in early Asia after CPI, core CPI data
USD/THB is currently trading around 31.46 marks. It made intraday high at 31.47 and low at 31.32 marks. Intraday bias remains bullish till the time pair holds key support at 31.18 mark. On the top side, key resistances a…
It made intraday high at 31.47 and low at 31.32 marks.
Intraday bias remains bullish till the time pair holds key support at 31.18 mark.
On the top side, key resistances are seen at 31.50, 31.70, 31.92, 32.14, 32.48 and 33.23 marks respectively.
Alternatively, a daily close below 31.36 will drag the parity down towards key supports around 31.18, 30.97, 30.87, 30.70 and 30.56 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Thailand’s CPI y/y stands at 0.74 pct vs 1.05 pct previous release (expected 0.77 pct).
Thailand’s core CPI stands at 0.58 pct vs 0.47 pct previous release (expected 0.50 pct).
We prefer to go long on USD/THB around 31.40, stop loss at 31.25 and target of 31.70/31.92.
