- USD/THB is currently trading around 32.91 marks.
- It made intraday high at 32.95 and low at 32.87 marks.
- Intraday bias remains neutral till the time holds key resistance at 33.03 mark.
- On the top side, key resistances are seen at 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
- Alternatively, a daily close below 32.92 will drag the parity down towards key supports around 32.68, 32.46, 32.27, 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 32.85, stop loss 33.00 and target of 32.68/32.46.
