Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Thai baht strengthens in early Asia, good to sell on rallies

  • USD/THB is currently trading around 32.19 marks.
     
  • It made intraday high at 32.28 and low at 32.18 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 32.28 mark.
     
  • A daily close below 32.26 will drag the parity down towards key supports around 32.17, 32.08, 31.93 and 31.75 marks respectively.
     
  • On the top side, key resistances are seen at 32.27, 32.38, 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 32.22, stop loss at 32.30 and target of 32.08/31.93.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.