• FxWirePro: Thai Baht depreciates in early Asia after CPI, core CPI data

    Source: FxWire Pro - Technicals / 05 Feb 2020 23:13:44   America/New_York

    • USD/THB is currently trading around 31.13 marks.
       
    • It made intraday high at 31.18 and low at 30.98 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 30.97 mark.
       
    • On the top side, key resistances are seen at 31.25, 31.37, 31.50, 31.70 and 31.92 marks respectively.
       
    • Alternatively, a daily close below 30.97 will drag the parity down towards key supports around 30.87, 30.70, 30.56, 30.37, 30.15, 29.96 and 29.72 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
       
    • Thailand’s CPI y/y stands at 1.05 pct vs 0.87 pct previous release (expected 0.96).
       
    • Thailand’s core CPI y/y stands at 0.47 pct vs 0.49 pct previous release (expected 0.50).

    We prefer to go long on USD/THB around 31.10, stop loss at 30.97 and target of 31.25/31.37.

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