- USD/THB is currently trading around 32.73 marks.
- It made intraday high at 32.70 and low at 32.81 marks.
- Intraday bias remains bearish for the moment.
- On the top side, key resistances are seen at 32.94, 33.07, 33.15, 33.32 and 33.52 marks respectively.
- Alternatively, a daily close below 32.80 will drag the parity down towards key supports around 32.68, 32.57, 32.42, 32.20 and 32.07 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 on USD/THB around 32.75, stop loss 32.94 and target of 32.68/32.57.
