FxWirePro: Thai baht erases previous loss against U.S. dollar, short term trend reversal likely

• USD/THB is currently trading around 33.15 marks.
   
• It made intraday high at 33.18 and low at 33.14 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 33.22 mark.
   
• A daily close below 33.18 will drag the parity down towards key supports around 33.10, 33.03, 32.94, 32.85, 32.77 and 32.54 marks respectively.
   
• On the top side, key resistances are seen at 33.22, 33.38, 33.46, 33.52, 33.77, 33.94, 34.10, 34.23, 34.34, 34.48, 34.55, 34.67 and 34.74 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/THB around 33.17, stop loss at 33.25 and target of 33.05 mark.

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