- USD/THB is currently trading around 32.39 marks.
- It made intraday high at 32.66 and low at 32.37 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 32.70 mark.
- On the top side, key resistances are seen at 32.70, 32.94, 33.32, 33.54 and 34.14 marks respectively.
- Alternatively, a daily close below 32.40 will drag the parity down towards key supports around 32.14, 31.85, 31.56, 31.18 and 30.97 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 go short on USD/THB around 32.40, stop loss at 32.67 and target of 31.85.