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FxWirePro: USD/THB fails to sustain above 36.00 mark, stay bearish

  • USD/THB is currently trading around 35.84 marks.
     
  • It made intraday high at 35.90 and low at 35.82 marks.
     
  • Intraday bias remains bearish for the moment.
     
  • On the top side key resistances are seen at 36.01, 36.08, 36.39 and 36.66 marks respectively.
     
  • Alternatively, a daily close below 35.89 will drag the parity down towards key supports around 35.81, 35.75, 35.67, 35.54, 35.41, 35.23, 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take short position in USD/THB around 35.85, stop loss at 36.01 and target of 35.54.

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