FxWirePro: Thai baht rises after CPI, core CPI data

• USD/THB is currently trading around 32.24 marks.
   
• It made intraday high at 32.33 and low at 32.23 marks.
   
• Intraday bias remains bearish till the time holds key resistance at 32.50 mark
   
• On the top side, key resistances are seen at 32.51, 32.70, 32.90, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
   
• Alternatively, a daily close below 32.33 will drag the parity down towards key supports around 32.18, 32.02 and 31.85 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Thailand Sep 2018 CPI headline inflation decrease to 1.33 % (forecast 1.3 %) vs previous 1.62 %.
   
• Thailand Sep 2018 CPI core inflation yy increase to 0.8 % (forecast 0.73 %) vs previous 0.75 %.

We prefer to take short position on USD/THB around 32.30, stop loss 32.51 and target of 32.18/32.02 mark.