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FxWirePro: USD/THB hovers around 35.00 mark, sustained close below targets 34.83

  • USD/THB is currently trading around 35.08 marks.
     
  • It made intraday high at 35.11 and low at 35.02 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 35.01 mark.   
     
  • On the top side key resistances are seen at 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 35.01 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.

We prefer to take short position in USD/THB around 35.10, stop loss at 35.32 and target of 34.83.

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