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FxWirePro: USD/THB hits fresh 2-month low at 32.38 mark, Thailand’s economic data in focus

  • 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.

  • Market Data
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