FxWirePro: Thai baht trades marginally lower ahead of industrial production data
USD/THB is currently trading around 30.87 marks. It made intraday high at 30.87 and low at 30.76 marks. Intraday bias remains bullish for the moment. On the top side, key resistances are seen at 30.97, 31.20, 31.50 and 3…
It made intraday high at 30.87 and low at 30.76 marks.
Intraday bias remains bullish for the moment.
On the top side, key resistances are seen at 30.97, 31.20, 31.50 and 31.70 marks respectively.
Alternatively, a daily close below 30.81 will drag the parity down towards key supports around 30.70, 30.56, 30.37, 30.15, 29.96 and 29.72 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Thailand will release industrial production data around 0400 GMT.
We prefer to go long on USD/THB around 30.80, stop loss at 30.70 and target of 30.97/31.20.
