- USD/THB is currently trading around 32.22 marks.
- It made intraday high at 32.27 and low at 32.21 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 32.08 mark.
- A daily close below 32.22 will drag the parity down towards key supports around 32.08, 31.93 and 31.75 marks respectively.
- On the top side, key resistances are seen at 32.27, 32.38, 32.46, 32.61 and 32.85 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 in USD/THB around 32.24, stop loss at 32.38 and target of 32.08/31.93.
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