FxWirePro: Thai baht erases previous gain against U.S. dollar, short term trend reversal likely
USD/THB is currently trading around 35.25 marks. It made intraday high at 35.27 and low at 35.22 marks. Intraday bias remains slightly bullish till the time pair holds key support at 35.19 marks. On the top side key resi…
It made intraday high at 35.27 and low at 35.22 marks.
Intraday bias remains slightly bullish till the time pair holds key support at 35.19 marks.
On the top side key resistances are seen at 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
Alternatively, a daily close below 35.19 will drag the parity down towards key supports around 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
We prefer to take short position in USD/THB around 35.35, stop loss 35.41 and target of 35.04.
