FxWirePro: USD/THB hovers around 33.40 mark, Thailand’s economic data in focus
USD/THB is currently trading around 33.38 marks. It made intraday high at 33.39 and low at 33.34 marks. Intraday bias remains neutral till the time pair holds key resistance at 33.38 mark. A daily close below 33.38 will …
It made intraday high at 33.39 and low at 33.34 marks.
Intraday bias remains neutral till the time pair holds key resistance at 33.38 mark.
A daily close below 33.38 will drag the parity down towards key supports around 33.28, 33.20, 33.10, 33.03, 32.94, 32.85, 32.77 and 32.54 marks respectively.
On the top side, key resistances are seen at 33.38, 33.52, 33.77, 33.94, 34.10, 34.23, 34.34, 34.48, 34.55, 34.67 and 34.74 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.
Thailand will release current account as well as trade balance data at 0730 GMT.
We prefer to take long position on USD/THB around 33.36, stop loss at 33.28 and target of 33.77 mark.
