• FxWirePro: Thai Baht trades almost flat against U.S. Dollar after CPI, core CPI data

    Source: FxWire Pro - Technicals / 01 Mar 2019 04:31:55   Europe/London

    • USD/THB is currently trading around 31.60 marks.
       
    • It made intraday high at 31.62 and low at 31.54 marks.
       
    • Intraday bias remains slightly bullish for the moment.
       
    • On the top side, key resistances are seen at 31.62, 31.70, 31.93, 32.02 and 32.10 marks respectively.
       
    • Alternatively, a daily close below 31.58 will drag the parity down towards key supports around 31.40, 31.28, 31.20, 31.06, 30.94, 30.20 and 29.66 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 Feb 2019 CPI headline inflation increase to 0.73 % (forecast 0.58 %) vs previous 0.27 %.
       
    • Thailand Feb 2019 CPI core inflation yy decrease to 0.6 % (forecast 0.7 %) vs previous 0.69 %

      We prefer to take long position on USD/THB only above 31.62, stop loss at 31.50 and target of 31.93 mark.
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