FxWirePro: Thai baht trades flat at 32.65 mark, sustained close above requires for upside rally
USD/THB is currently trading around 32.61 marks. It made intraday high at 32.67 and low at 32.61 marks. Intraday bias remains neutral for the moment. On the top side, key resistances are seen at 32.65, 32.90, 33.05, 33.2…
It made intraday high at 32.67 and low at 32.61 marks.
Intraday bias remains neutral for the moment.
On the top side, key resistances are seen at 32.65, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
Alternatively, a daily close below 32.65 will drag the parity down towards key supports around 32.42, 32.27, 32.18, 32.02 and 31.85 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
