- USD/THB is currently trading around 33.11 marks.
- It made intraday high at 33.17 and low at 33.07 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 33.30 mark.
- On the top side, key resistances are seen at 33.30, 33.48 and 33.78 marks respectively.
- Alternatively, a daily close below 33.02 will drag the parity down towards key supports around 32.90, 32.66 and 32.50 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position in USD/THB around 33.12, stop loss at 33.20 and target of 33.02/32.90.
