FxWirePro: Thai baht trades flat in early Asia, faces key support at 32.90 mark
USD/THB is currently trading around 33.07 marks. It made intraday high at 33.08 and low at 33.04 marks. Intraday bias remains neutral for the moment. On the top side, key resistances are seen at 33.20, 33.37, 33.52, 33.7…
It made intraday high at 33.08 and low at 33.04 marks.
Intraday bias remains neutral for the moment.
On the top side, key resistances are seen at 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
Alternatively, a daily close below 33.05 will drag the parity down towards key supports around 32.90, 32.77, 32.57, 32.42, 32.27, 32.18, 32.02 and 31.85 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/THB around 33.05, stop loss 32.90 and target of 33.20/33.37.
