FxWirePro: Thai baht falls in early Asia ahead of BOT’s interest rate decision
USD/THB is currently trading around 31.09 marks. It made intraday high at 31.16 and low at 30.95 marks. Intraday bias remains bullish till the time pair holds key support at 30.97 mark. On the top side, key resistances a…
It made intraday high at 31.16 and low at 30.95 marks.
Intraday bias remains bullish till the time pair holds key support at 30.97 mark.
On the top side, key resistances are seen at 31.25, 31.37, 31.50, 31.70 and 31.92 marks respectively.
Alternatively, a daily close below 30.97 will drag the parity down towards key supports around 30.87, 30.70, 30.56, 30.37, 30.15, 29.96 and 29.72 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 interest rate decision around 0705 GMT.
We prefer to go long on USD/THB around 31.00, stop loss at 30.87 and target of 31.25/31.37.
