• FxWirePro: Thai Baht trades marginally lower ahead of consumer confidence data

    Source: FxWire Pro - Technicals / 06 Nov 2019 22:37:52   America/New_York

    • USD/THB is currently trading around 30.33 marks.
       
    • It made intraday high at 30.34 and low at 30.28 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 30.16 mark.
       
    • On the top side, key resistances are seen at 30.40, 30.72, 30.97, 31.20, 31.50 and 31.70 marks respectively.
       
    • Alternatively, a daily close below 30.16 will drag the parity down towards key supports around 30.02, 29.84 and 29.55 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 consumer confidence data around 0400 GMT.

    We prefer to go short on USD/THB around 30.38, stop loss at 30.50 and target of 30.16/30.02/29.84.

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