FxWirePro: Thai baht falls gradually against U.S. dollar, intraday bias remains bullish

• USD/THB is currently trading around 34.04 marks.
   
• It made intraday high at 34.04 and low at 34.02 marks.


• Intraday bias remains bullish for the moment.
   
• On the top side, key resistances are seen at 34.02, 34.27, 34.34, 34.48, 34.55, 34.67, 34.74, 34.82, 34.97, 35.11 and 35.20 marks respectively.
   
• Alternatively, a daily close below 34.00 will drag the parity down towards key supports around 33.92, 33.82, 33.74, 33.58, 33.01 and 32.54 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take long position in USD/THB around 34.02, stop loss 33.92 and target of 34.27.