Baby's heart rate 32 weeks?

A normal fetal heart rate is between 110-160 and with periods of intense movement it will go higher just like ours does. The NST is a great indicator of fetal well being and you want it to go up and down. As the baby's brain develops the sympathetic and parasympathetic nervous symptoms they are battling for control and sympathetic gets the heart rate up while parasympathetic makes it go down. This struggle in a healthy brain will have a fluctuating heart rate and it is a good thing. Sounds like everything with your baby is perfect