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

    Source: FxWire Pro - Technicals / 20 Mar 2019 22:22:18   America/New_York

    • USD/THB is currently trading around 31.62 marks.
       
    • It made intraday high at 31.68 and low at 31.60 marks.
       
    • Intraday bias remains slightly bearish till the time pair holds key resistance at 31.78 mark.
       
    • On the top side, key resistances are seen at 31.78, 31.92, 32.02, 32.10, 32.22 and 32.54 marks respectively.
       
    • Alternatively, a daily close below 31.66 will drag the parity down towards key supports around 31.58, 31.42, 31.28, 31.20 and 31.06 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 trade balance data around 0300 GMT.

    We prefer to take short position on USD/THB only below 31.58, stop loss 31.70 and target of 31.42 mark.

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