FxWirePro: Thai baht trades almost flat against U.S. dollar after CPI, core CPI data
USD/THB is currently trading around 31.60 marks. It made intraday high at 31.62 and low at 31.54 marks. Intraday bias remains slightly bullish for the moment. On the top side, key resistances are seen at 31.62, 31.70, 31…
It made intraday high at 31.62 and low at 31.54 marks.
Intraday bias remains slightly bullish for the moment.
On the top side, key resistances are seen at 31.62, 31.70, 31.93, 32.02 and 32.10 marks respectively.
Alternatively, a daily close below 31.58 will drag the parity down towards key supports around 31.40, 31.28, 31.20, 31.06, 30.94, 30.20 and 29.66 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
Thailand Feb 2019 CPI headline inflation increase to 0.73 % (forecast 0.58 %) vs previous 0.27 %.
Thailand Feb 2019 CPI core inflation yy decrease to 0.6 % (forecast 0.7 %) vs previous 0.69 %
We prefer to take long position on USD/THB only above 31.62, stop loss at 31.50 and target of 31.93 mark.
