FxWirePro: Thai baht rises surprisingly against U.S. dollar, hits maximum level since November 2013

• USD/THB is currently trading around 31.70 marks.
   
• It made intraday high at 31.80 and low at 31.70 marks.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at 31.92 mark.
   
• A daily close below 31.80 will drag the parity down towards key supports around 31.57, 31.28 and 31.11 marks respectively.
   
• On the top side, key resistances are seen at 31.92, 32.00, 32.13, 32.28, 32.39, 32.46, 32.61 and 32.85 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 31.75, stop loss at 31.92 and target of 31.57.

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