• FxWirePro: Thai Baht trades almost flat ahead of trade balance data, downside limited

    Source: FxWire Pro - Technicals / 19 Jul 2018 23:41:40   America/New_York

    • USD/THB is currently trading around 33.48 marks.
       
    • It made intraday high at 33.52 and low at 33.39 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 33.22 mark.
       
    • On the top side, key resistances are seen at 33.52, 33.78 and 33.96 marks respectively.
       
    • Alternatively, a daily close below 33.46 will drag the parity down towards key supports around  33.22, 33.02, 32.90, 32.66 and 32.50 marks respectively.
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
       
    • Thailand will release trade balance data at 0330 GMT.

    We prefer to take long position on USD/THB around 33.45, stop loss at 33.22 and target of 33.78.

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