FxWirePro:USD/THB rejects key support at 31.10 mark, bias remains neutral

• USD/THB is currently trading around 31.18 marks.
   
• It made intraday high at 31.25 and low at 31.17 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 31.10 mark.
   
• On the top side, key resistances are seen at 31.30, 31.50, 31.59, 31.75, 31.92, 32.00, 32.13 and 32.28 marks respectively.
   
• Alternatively, a daily close below 31.10 will drag the parity down towards key supports around 31.01, 30.83, 30.68 and 30.40 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

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.

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