FxWirePro: USD/THB exhibits range bound movement, faces strong support at 34.99

• USD/THB is currently trading around 35.02 marks.
   
• It made intraday high at 35.06 and low at 34.99 marks.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at 35.11 marks.    
   
• On the top side key resistances are seen at 35.11, 35.21, 35.33, 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
   
• Alternatively, a daily close below 34.99 will drag the parity down towards key supports around 34.85, 34.64, 34.51 and 34.20 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position in USD/THB only below 34.99, stop loss 35.11 and target of 34.85.