FxWirePro: USD/THB hits fresh 2-month high at 35.32 mark, consistent close above targets 35.47
USD/THB is currently trading around 35.32 marks. It made intraday high at 35.32 and low at 35.28 marks. Intraday bias remains bullish till the time pair holds key support at 35.10 mark. On the top side key resistances ar…
It made intraday high at 35.32 and low at 35.28 marks.
Intraday bias remains bullish till the time pair holds key support at 35.10 mark.
On the top side key resistances are seen at 35.47, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.
Alternatively, a daily close below 35.10 will drag the parity down towards key supports around 34.91, 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 long position in USD/THB only above 35.32, stop loss at 35.10 and target of 35.47/35.62.
