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FxWirePro: USD/THB hovers around key resistance at 33.22 mark, sustained close above requires for upside rally

  • USD/THB is currently trading around 33.23 marks.
     
  • It made intraday high at 33.24 and low at 33.18 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 33.14 mark.
     
  • On the top side, key resistances are seen at 33.22, 33.30, 33.48 and 33.78 marks respectively.
     
  • Alternatively, a daily close below 33.21 will drag the parity down towards key supports around  33.02, 32.90, 32.66 and 32.50 marks respectively.
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • Thailand will release forex reserves and currency swap data at 0730 GMT.

We prefer to take long position in USD/THB around 33.20, stop loss at 33.10 and target of 33.48.

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