FxWirePro: Thai baht holds steady despite lower than expected GDP data

• USD/THB is currently trading around 35.54 marks.
   
• It made intraday high at 35.57 and low at 35.50 marks.
   
• Intraday bias remains bullish for the moment.
   
• On the top side key resistances are seen at 35.63, 35.72, 35.80, 36.05, 36.44 and 36.66 marks respectively.
   
• Alternatively, a daily close below 35.47 will drag the parity down towards key supports around 35.23, 35.04, 34.83, 34.64, 34.51 and 34.20 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 Q3 GDP +3.2 pct yr/yr (vs +3.4 pct in poll) - State planning agency.
   
• Thailand’s Q3 GDP +0.6 pct q/q seasonally adjusted (vs +0.7 pct in poll) - Planning agency.
   
• Thailand’s Q3 GDP +3.5 pct yr/yr (vs +3.5 pct stated earlier) - Planning agency.

We prefer to take long position in USD/THB around 35.45, stop loss at 35.23 and target of 35.90/36.05.