FxWirePro: Thai baht trades flat despite robust GDP data

• USD/THB is currently trading around 33.22 marks.
   
• It made intraday high at 33.23 and low at 33.21 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 33.20 marks.
   
• On the top side, key resistances are seen at 33.32, 33.43, 33.52, 33.77, 33.94, 34.10, 34.23, 34.34, 34.48, 34.55, 34.67 and 34.74 marks respectively.
   
• Alternatively, a daily close below 33.20 will drag the parity down towards key supports around 33.01, 32.77 and 32.54 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Thailand Q2 GDP +3.7 pct yr/yr (vs +3.2 pct in poll).
   
• Thai Q2 GDP +1.3 pct q/q seasonally adjusted (vs +1.0 pct in poll).

We prefer to take short position in USD/THB only below 33.20, stop loss at 33.32 and target of 33.01.

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