FxWirePro: Thai baht rises in early Asia ahead of CPI, core CPI data
USD/THB is currently trading around 33.07 marks. It made intraday high at 33.14 and low at 33.05 marks. Intraday bias remains bearish for the moment. On the top side, key resistances are seen at 33.32, 33.52, 33.78 and 3…
It made intraday high at 33.14 and low at 33.05 marks.
Intraday bias remains bearish for the moment.
On the top side, key resistances are seen at 33.32, 33.52, 33.78 and 33.96 marks respectively.
Alternatively, a daily close below 33.10 will drag the parity down towards key supports around 33.05, 32.90, 32.77, 32.57 and 32.42 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 CPI as well as core CPI data at 0400 GMT.
We prefer to take short position on USD/THB only below 33.02, stop loss 33.18 and target of 32.90/32.77.
