FxWirePro: USD/THB exhibits range bound movement, stay bearish only below 32.32 mark

• USD/THB is currently trading around 32.44 marks.
   
• It made intraday high at 32.47 and low at 32.39 marks.
   
• Intraday bias remains neutral till the time holds key support at 32.32 mark.
   
• On the top side, key resistances are seen at 32.51, 32.70, 32.90, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
   
• Alternatively, a daily close below 32.34 will drag the parity down towards key supports around 32.18, 32.02 and 31.85 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 on USD/THB only below 32.32, stop loss at 32.50 and target of 32.18/32.02.