FxWirePro: Thai baht trades marginally lower after trade balance data

• USD/THB is currently trading around 33.26 marks.
   
• It made intraday high at 33.26 and low at 33.23 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 33.20 marks.
   
• A daily close below 33.20 will drag the parity down towards key supports around 33.01, 32.77 and 32.54 marks respectively.
   
• 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.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Thailand July customs-cleared exports +10.5 pct yr/yr (vs +11.6 pct in poll).
   
• Thailand July customs-cleared imports +18.5 pct yr/yr (vs +13.0 pct in poll).
   
• Thailand July customs-cleared trade balance -0.19 bln dlrs (vs +0.8 bln dlrs in poll).

We prefer to take long position in USD/THB only above 33.32, stop loss at 33.20 and target of 33.52.

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