FxWirePro: Thai baht marginally higher against U.S. dollar in early hours of Asia, bias remains bearish

• USD/THB is currently trading around 35.82 marks.
   
• It made intraday high at 35.84 and low at 35.81 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 35.89 marks.
   
• On the top side key resistances are seen at 35.89, 36.05, 36.44 and 36.66 marks respectively.
   
• Alternatively, a daily close below 35.86 will drag the parity down towards key supports around 35.75, 35.67, 35.54, 35.41, 35.23, 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position in USD/THB around 35.84, stop loss at 35.90 and target of 35.75/35.67.