FxWirePro: Thai baht trades almost flat ahead of manufacturing production data
USD/THB is currently trading around 32.99 marks. It made intraday high at 33.05 and low at 32.98 marks. Intraday bias remains bullish till the time pair holds key support at 32.89 mark. On the top side, key resistances a…
It made intraday high at 33.05 and low at 32.98 marks.
Intraday bias remains bullish till the time pair holds key support at 32.89 mark.
On the top side, key resistances are seen at 33.03, 33.24 and 33.48 marks respectively.
Alternatively, a daily close below 33.03 will drag the parity down towards key supports around 32.89, 32.66, 32.50, 32.22, 32.10, 31.97, 31.90 and 31.68 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 manufacturing production data at 0400 GMT.
We prefer to take long position in USD/THB around 32.95, stop loss at 32.87 and target of 33.24.
