FxWirePro: USD/THB moves in stiff boundaries, consistent close below 31.21 requires for downside rally

• USD/THB is currently trading around 31.28 marks.
   
• It made intraday high at 31.29 and low at 31.23 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 31.21 mark.
   
• On the top side, key resistances are seen at 31.40, 31.57, 31.70, 31.93, 32.02 and 32.10 marks respectively.
   
• Alternatively, a daily close below 31.21 will drag the parity down towards key supports around  31.18, 31.10 and 30.94 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 on USD/THB only below 31.18, stop loss at 31.40 and target of 31.00/30.94  mark.