- USD/THB is currently trading around 34.92 marks.
- It made intraday high at 35.04 and low at 34.83 marks.
- Intraday bias remains bearish for the moment.
- On the top side key resistances are seen at 35.25, 35.45, 35.67, 35.90, 36.05, 36.44 and 36.66 marks respectively.
- Alternatively, a daily close below 35.00 will drag the parity down towards key supports around 34.83, 34.77, 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. Current downside movement is short term trend correction only.
We prefer to go short on USD/THB around 35.00, stop loss 35.25 and target 34.51.
