Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Thai baht rises gradually against U.S. dollar, hits highest level since Oct 2018

  • USD/THB is currently trading around 32.29 marks.
     
  • It made intraday high at 32.33 and low at 32.24 marks.
     
  • Intraday bias remains bearish till the time pair holds immediate resistance at 32.48 mark.
     
  • On the top side, key resistances are seen at 32.48, 32.70, 32.83, 32.92, 33.07, 33.15, 33.32 and 33.52 marks respectively.
     
  • Alternatively, a daily close below 32.28 will drag the parity down towards key supports around  32.20, 32.07, 31.85 and 31.60 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/THB around 32.30, stop loss at 32.50 and target of 31.85.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.