FxWirePro: Thai baht trades almost flat ahead of trade balance data
USD/THB is currently trading around 32.83 marks. It made intraday high at 32.89 and low at 32.81 marks. Intraday bias remains neutral for the moment. On the top side, key resistances are seen at 32.89, 33.07, 33.24 and 3…
It made intraday high at 32.89 and low at 32.81 marks.
Intraday bias remains neutral for the moment.
On the top side, key resistances are seen at 32.89, 33.07, 33.24 and 33.48 marks respectively.
Alternatively, a daily close below 32.83 will drag the parity down towards key supports around 32.60, 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 trade balance data at 0330 GMT.
We prefer to take long position in USD/THB around 32.82, stop loss at 32.60 and target of 33.07.
