FxWirePro: Thai baht trades marginally lower after CPI, core CPI data
USD/THB is currently trading around 31.57 marks. It made intraday high at 31.58 and low at 31.54 marks. Intraday bias remains slightly bullish for the moment. On the top side, key resistances are seen at 31.64, 31.75, 31…
It made intraday high at 31.58 and low at 31.54 marks.
Intraday bias remains slightly bullish for the moment.
On the top side, key resistances are seen at 31.64, 31.75, 31.92, 32.00, 32.13 and 32.28 marks respectively.
Alternatively, a daily close below 31.50 will drag the parity down towards key supports around 31.30, 31.20, 31.01 and 30.83 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
Thai April headline CPI +1.07 pct on year (vs +0.87 pct in poll).
Thai April core CPI +0.64 pct on year (vs +0.67 pct in poll).
We prefer to take long position in USD/THB around 31.55, stop loss at 31.42 and target of 31.75/31.92.
