- USD/THB is currently trading around 35.45 marks.
- It made intraday high at 35.60 and low at 35.42 marks.
- Intraday bias remains bearish for the moment.
- On the top side key resistances are seen at 35.54, 35.63, 35.72, 35.80, 36.05, 36.44 and 36.66 marks respectively.
- Alternatively, a daily close below 35.42 will drag the parity down towards key supports around 35.23, 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position in USD/THB around 35.35, stop loss at 35.20 and target of 35.63/35.90/36.05.
