FxWirePro: Thai baht trades flat ahead of trade balance data, further sideways movement likely

• USD/THB is currently trading around 32.62 marks.
   
• It made intraday high at 32.62 and low at 32.57 marks.
   
• Intraday bias remains neutral for the moment.
   
• On the top side, key resistances are seen at 32.78, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
   
• Alternatively, a daily close below 32.49 will drag the parity down towards key supports around 32.27, 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.
   
• Thailand will release trade balance data at 0330 GMT.

We prefer to take long position on USD/THB aroung 32.60, stop loss 32.40 and target of 32.90.