- USD/THB is currently trading around 33.23 marks.
- It made intraday high at 33.24 and low at 33.13 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 33.52 mark.
- On the top side, key resistances are seen at 33.52, 33.78 and 33.96 marks respectively.
- Alternatively, a daily close below 33.22 will drag the parity down towards key supports around 33.02, 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 on USD/THB around 33.22, stop loss at 33.52 and target of 32.90.
