• FxWirePro: Thai Baht appreciates in early Asia ahead of manufacturing production data

    Source: FxWire Pro - Technicals / 29 Apr 2018 22:31:34   America/New_York

    • USD/THB is currently trading around 31.48 marks.
       
    • It made intraday high at 31.53 and low at 31.46 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 31.64 mark.
       
    • On the top side, key resistances are seen at 31.64, 31.75, 31.92, 32.00, 32.13 and 32.28 marks respectively.
       
    • Alternatively, a daily close below 31.50 will drag the parity down towards key supports around 31.30, 31.20, 31.01 and 30.83 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 manufacturing production data at 0400 GMT.

    We prefer to take short position in USD/THB around 31.50, stop loss at 31.64 and target of 31.20.

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