FxWirePro: USD/THB continues to trade in rigid boundaries, more sideways movement likely

• USD/THB is currently trading around 33.33 marks.
   
• It made intraday high at 33.35 and low at 33.28 marks.
   
• Intraday bias remains neutral for the moment.
   
• On the top side, key resistances are seen at 33.40, 33.52, 33.78 and 33.96 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.
   
• Thailand will release forex reserves and currency swap data at 0730 GMT.

We prefer to take long position on USD/THB only above 33.40, stop loss at 33.15 and target of 33.78.