FxWirePro: USD/THB trades in narrow range, Thailand’s various economic data in focus

• USD/THB is currently trading around 30.79 marks.
   
• It made intraday high at 30.81 and low at 30.77 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 30.95 marks.
   
• On the top side, key resistances are seen at  30.95, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
   
• Alternatively, a daily close below 30.79 will drag the parity down towards key supports around 30.56, 30.42, 30.28 and 30.12 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 current account as well as trade balance data around 0730 GMT.

We prefer to take short position on USD/THB around 30.80, stop loss at 30.95 and target of 30.56.