FxWirePro: Thai baht marginally higher against U.S. dollar despite lower than expected manufacturing output data

• USD/THB is currently trading around 35.18 marks.
   
• It made intraday high at 35.21 and low at 35.16 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 35.32 marks.  
   
• On the top side key resistances are seen at 35.33, 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
   
• Alternatively, a daily close below 35.21 will drag the parity down towards key supports around 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
   
• Thailand’s December manufacturing output +0.54 pct on year (vs +2.50 pct in poll) - Industry ministry.
   
• Thailand’s 2016 manufacturing output +0.44 pct - industry ministry.

We prefer to take short position in USD/THB around 35.20, stop loss 35.32 and target of 35.04.