- USD/THB is currently trading around 34.63 marks.
- It made intraday high at 34.67 and low at 34.54 marks.
- Intraday bias remains bullish till the time pair holds key support at 34.52 mark.
- On the top side, key resistances are seen at 34.72, 34.85, 34.97, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.
- Alternatively, a daily close below 34.57 will drag the parity down towards key supports around 34.45, 34.35, 34.20 and 34.01 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.
- Thailand’s March consumer confidence index at 76.8 vs 75.8 in February.
We prefer to take short position in USD/THB only below 34.57, stop loss at 34.69 and target of 34.35.
