• FxWirePro: Thai Baht falls on the back of lower than expected CPI, core CPI data

    Source: FxWire Pro - Technicals / 30 Nov 2017 23:03:01   Eastern Standard Time

    • USD/THB is currently trading around 32.68 marks.
       
    • It made intraday high at 32.70 and low at 32.61 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 32.55 mark.
       
    • A daily close below 32.64 will drag the parity down towards key supports around 32.55, 32.49, 32.41, 32.34 and 32.24 marks respectively.
       
    • On the top side, key resistances are seen at 32.70, 32.75, 32.86, 32.92, 33.03, 33.10, 33.22, 33.38, 33.46, 33.52, 33.77 and 33.94 marks respectively.
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
       
    • Thai Nov headline CPI  +0.99 pct on year (vs +1.0 pct in poll).
       
    • Thai Nov core CPI +0.61 pct on year (vs +0.63 pct in poll).

    We prefer to take long position in USD/THB only above 32.70, stop loss at 32.55 and target of 32.92.

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