• FxWirePro: Thai Baht strengthens on robust manufacturing output data

    Source: FxWire Pro - Technicals / 27 Dec 2017 23:04:35   Eastern Standard Time

    • USD/THB is currently trading around 32.64 marks.
       
    • It made intraday high at 32.81 and low at 32.61 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 32.81 mark.
       
    • A daily close below 32.81 will drag the parity down towards key supports around 32.61, 32.50, 32.44, 32.34 and 32.24 marks respectively.
       
    • On the top side, key resistances are seen at 32.85, 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.
       
    • Thai Nov manufacturing output +4.23 pct on year (vs +1.9 pct in poll).

    We prefer to take short position in USD/THB around 32.70, stop loss at 32.92 and target of 32.50/32.34.

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