FxWirePro: USD/THB fails to break key support at 32.20 mark, bias remains neutral
USD/THB is currently trading around 32.32 marks. It made intraday high at 32.34 and low at 32.27 marks. Intraday bias remains neutral till the time holds key support at 32.20 mark. On the top side, key resistances are se…
It made intraday high at 32.34 and low at 32.27 marks.
Intraday bias remains neutral till the time holds key support at 32.20 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 32.28 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. Current upside movement is short term trend correction only.
We prefer to take short position on USD/THB only below 32.27, stop loss 32.40 and target of 32.18/32.02 mark.
