- USD/THB is currently trading around 30.76 marks.
- It made intraday high at 30.83 and low at 30.74 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.97 marks.
- On the top side, key resistances are seen at 30.97, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
- Alternatively, a daily close below 30.70 will drag the parity down towards key supports around 30.56, 30.42, 30.28 and 30.12 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Thailand will release consumer confidence data around 0400 GMT..
We prefer to take short position on USD/THB only below 30.70, stop loss at 30.90 and target of 30.42.
