- USD/THB is currently trading around 32.20 marks.
- It made intraday high at 32.27 and low at 32.18 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 32.38 mark.
- A daily close below 32.27 will drag the parity down towards key supports around 32.18, 31.93 and 31.75 marks respectively
- On the top side, key resistances are seen at 32.38, 32.46, 32.61, 32.85, 32.92, 33.03, 33.10, 33.22, 33.38, 33.46, 33.52, 33.77 and 33.94 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 in USD/THB around 32.22, stop loss at 32.46 and target of 31.93.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
