- USD/THB is currently trading around 31.70 marks.
- It made intraday high at 31.73 and low at 31.66 marks.
- Intraday bias remains neutral till the time pair holds key support at 31.70 mark.
- On the top side, key resistances are seen at 31.93, 32.02, 32.10, 32.22 and 32.48 marks respectively.
- Alternatively, a daily close below 31.70 will drag the parity down towards key supports around 31.57, 31.46, 31.24 and 31.10 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 release forex reserves and currency swap data at 0730 GMT.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
