FxWirePro: USD/THB exhibits range bound movement, faces strong resistance at 33.02 mark

• USD/THB is currently trading around 32.85 marks.
   
• It made intraday high at 33.00 and low at 32.85 marks.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 33.02 mark.
   
• On the top side, key resistances are seen at 33.02, 33.15, 33.32, 33.52, 33.78 and 33.96 marks respectively.
   
• Alternatively, a daily close below 32.82 will drag the parity down towards key supports around 32.70, 32.57 and 32.42 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 take long position on USD/THB only above 33.02, stop loss 32.70 and target of 33.15.