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FxWirePro: Thai baht falls gradually against U.S. dollar, good to buy on dips

  • USD/THB is currently trading around 32.85 marks.
     
  • It made intraday high at 32.88 and low at 32.72 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 32.36 mark.
     
  • On the top side, key resistances are seen at 32.94, 33.32, 33.54 and 34.14 marks respectively.
     
  • Alternatively, a daily close below 32.72 will drag the parity down towards key supports around 32.56, 32.36, 32.10, 31.85, 31.56, 31.18 and 30.97 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to go long on USD/THB only above 32.72, stop loss at 32.50 and target of 32.94.

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