FxWirePro: Thai baht trades marginally lower despite higher than expected trade balance data

• USD/THB is currently trading around 33.12 marks.
   
• It made intraday high at 33.14 and low at 33.09 marks.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 33.09 mark.
   
• A daily close below 33.09 will drag the parity down towards key supports around 33.01, 32.94, 32.85, 32.77 and 32.54 marks respectively.
   
• On the top side, key resistances are seen at 33.21, 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 will release trade balance data at 0700 GMT.
   

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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