FxWirePro: USD/THB hovers around key resistance at 31.42 mark, sustained close above requires for upside rally

• USD/THB is currently trading around 31.38 marks.
   
• It made intraday high at 31.38 and low at 31.25 marks.
   
• Intraday bias remains bullish l till the time pair holds key support at 31.26 marks.
   
• On the top side, key resistances are seen at 31.42, 31.50, 31.70, 31.94, 32.10, 32.22 and 32.54 marks respectively.
   
• Alternatively, a daily close below 31.27 will drag the parity down towards key supports around 31.20, 31.06, 30.88 and 30.52 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 long position on USD/THB only above 31.42, stop loss at 31.20 and target of 31.70.