FxWirePro: USD/THB continues to trade in stiff boundaries, stay bearish only below 33.01 mark
USD/THB is currently trading around 33.07 marks. It made intraday high at 33.09 and low at 33.06 marks. Intraday bias remains neutral till the time pair holds key support at 33.01 mark. A daily close below 33.07 will dra…
It made intraday high at 33.09 and low at 33.06 marks.
Intraday bias remains neutral till the time pair holds key support at 33.01 mark.
A daily close below 33.07 will drag the parity down towards key supports around 33.01, 32.94, 32.85, 32.77 and 32.54 marks respectively.
On the top side, key resistances are seen at 33.11, 33.21, 33.32, 33.43, 33.52, 33.77, 33.94, 34.10, 34.23, 34.34, 34.48, 34.55, 34.67 and 34.74 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
