• FxWirePro: Thai Baht trades marginally lower ahead of trade balance data

    Source: FxWire Pro - Technicals / 21 Jan 2018 21:14:36   Eastern Standard Time

    • USD/THB is currently trading around 31.89 marks.
       
    • It made intraday high at 31.92 and low at 31.85 marks.
       
    • Intraday bias remains neutral till the time pair holds immediate support at 31.85 mark.
       
    • A daily close below 31.85 will drag the parity down towards key supports around 31.73, 31.57 and 31.28 marks respectively.
       
    • On the top side, key resistances are seen at 32.04, 32.28, 32.39, 32.46, 32.61 and 32.85 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.
       
    • Thailand will release trade balance data at 0330 GMT.

    We prefer to take short position in USD/THB only below 31.85, stop loss at 32.04 and target of 31.57.

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