- USD/THB is currently trading around 35.01 marks.
- It made intraday high at 35.09 and low at 34.99 marks.
- Intraday bias remains neutral till the time pair holds key support at 34.84 marks.
- On the top side key resistances are seen at 35.15, 35.25, 35.45, 35.67, 35.90, 36.05, 36.44 and 36.66 marks respectively.
- Alternatively, a daily close below 34.83 will drag the parity down towards key supports around 34.51 and 34.20 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Thailand will release trade balance, current account, private investment index and private consumption index data at 0730 GMT.
- Thailand’s September manufacturing output +0.6 pct on year (vs -0.3 pct in Reuters poll) - Industry ministry.
We prefer to take long position in USD/THB around 35.00, stop loss at 34.84 and target of 35.25/35.45.
