FxWirePro: USD/THB exhibits range bound movement, consistent close below 30.56 requires for downside rally

• USD/THB is currently trading around 30.66 marks.
   
• It made intraday high at 30.66 and low at 30.62 marks.
   
• Intraday bias remains neutral till the time pair holds key support 30.56 mark.
   
• On the top side, key resistances are seen at 30.70, 30.97, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
   
• Alternatively, a daily close below 30.56 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. Current upside movement is short term trend correction only.

We prefer to go short on USD/THB only below 30.56, stop loss at 30.70 and target of 30.42/30.28 mark.