- USD/THB is currently trading around 32.40 marks.
- It made intraday high at 32.54 and low at 32.38 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 32.70 mark.
- On the top side, key resistances are seen at 32.70, 32.83, 32.92, 33.07, 33.15, 33.32 and 33.52 marks respectively.
- Alternatively, a daily close below 32.52 will drag the parity down towards key supports around 32.32, 32.20 and 32.07 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Thailand will relase trade balance, current account, forex reserves and currency swap data at 0730 GMT.
We prefer to take short position on USD/THB around 32.45, stop loss at 32.70 and target of 32.20.
