- USD/THB is currently trading around 34.96 marks.
- It made intraday high at 34.97 and low at 34.90 marks.
- Intraday bias remains neutral till the time pair holds key support at 34.91 mark.
- On the top side key resistances are seen at 35.00, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.
- Alternatively, a daily close below 34.91 will drag the parity down towards key supports around 34.83, 34.64, 34.51 and 34.20 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 34.99, stop loss at 35.11 and target of 34.83.
