FxWirePro: USD/THB hits fresh 5-month low at 34.65 mark, faces strong support at 34.50

• USD/THB is currently trading around 34.67 marks.
   
• It made intraday high at 34.85 and low at 34.65 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 34.97 mark.   
   
• On the top side key resistances are seen at 34.97, 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 34.82 will drag the parity down towards key supports around 34.65, 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.

We prefer to take short position in USD/THB around 34.75, stop loss at 34.97 and target of 34.50/34.20.