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- USD/THB is currently trading around 30.66 marks.
- It made intraday high at 30.80 and low at 30.66 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.90 marks.
- On the top side, key resistances are seen at 30.90, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
- Alternatively, a daily close below 30.56 will drag the parity down towards key supports around 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 forex reserves and currency swap data around 0730 GMT.
We prefer to take short position on USD/THB around 30.70, stop loss at 30.90 and target of 30.42/30.28.
