- USD/THB is currently trading around 34.95 marks.
- It made intraday high at 35.00 and low at 34.94 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 35.08 marks.
- On the top side key resistances are seen at 35.08, 35.15, 35.25, 35.45, 35.67, 35.90, 36.05, 36.44 and 36.66 marks respectively.
- Alternatively, a daily close below 34.96 will drag the parity down towards key supports around 34.83, 34.64, 34.51 and 34.20 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position in USD/THB only below 34.92, stop loss at 35.08 and target of 34.76/34.64/34.51.