FxWirePro: Thai baht marginally lower ahead of Thailand’s consumer confidence index

• USD/THB is currently trading around 34.57 marks.
   
• It made intraday high at 34.61 and low at 34.54 marks.
   
• Intraday bias remains neutral for the moment.
   
• On the top side, key resistances are seen at 34.62, 34.85, 34.97, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.
   
• Alternatively, a daily close below 34.55 will drag the parity down towards key supports around 34.40, 34.34, 34.24 and 34.01 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Thailand will release consumer confidence data at 0330 GMT.

 

We prefer to take short position in USD/THB around 34.60, stop loss at 34.72 and target of 34.40/34.34/34.24.