FxWirePro: Thai baht trades almost flat in early Asia ahead of BOT’s repo rate decision

• USD/THB is currently trading around 32.54 marks.
   
• It made intraday high at 32.59 and low at 32.54 marks.
   
• Intraday bias remains neutral till the time pair moves in stiff boundaries from 32.90 to 32.50 marks.
   
• On the top side, key resistances are seen at 32.90, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
   
• Alternatively, a daily close below 32.50 will drag the parity down towards key supports around 32.18, 32.02 and 31.85 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• BOT will release repo rate decision at 0705 GMT.

We prefer to take short position on USD/THB only below 32.50, stop loss at 32.70 and target of 32.18.