FxWirePro: Thai baht trades almost flat ahead of trade balance data, downside limited
USD/THB is currently trading around 33.48 marks. It made intraday high at 33.52 and low at 33.39 marks. Intraday bias remains bullish till the time pair holds key support at 33.22 mark. On the top side, key resistances a…
It made intraday high at 33.52 and low at 33.39 marks.
Intraday bias remains bullish till the time pair holds key support at 33.22 mark.
On the top side, key resistances are seen at 33.52, 33.78 and 33.96 marks respectively.
Alternatively, a daily close below 33.46 will drag the parity down towards key supports around 33.22, 33.02, 32.90, 32.66 and 32.50 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 on USD/THB around 33.45, stop loss at 33.22 and target of 33.78.
