- USD/THB is currently trading around 34.32 marks.
- It made intraday high at 34.41 and low at 34.32 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 34.56 mark.
- On the top side, key resistances are seen at 34.56, 34.67, 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 34.39 will drag the parity down towards key supports around 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.
We prefer to take short position in USD/THB around 34.36, stop loss 34.56 and target of 34.20/34.01.
