FxWirePro: USD/THB moves in stiff boundaries, faces key support at 32.77 mark
USD/THB is currently trading around 32.99 marks. It made intraday high at 32.99 and low at 32.94 marks. Intraday bias remains neutral for the moment. On the top side, key resistances are seen at 33.02, 33.15, 33.32, 33.5…
It made intraday high at 32.99 and low at 32.94 marks.
Intraday bias remains neutral for the moment.
On the top side, key resistances are seen at 33.02, 33.15, 33.32, 33.52, 33.78 and 33.96 marks respectively.
Alternatively, a daily close below 32.82 will drag the parity down towards key supports around 32.77, 32.68, 32.57, 32.42, 32.20 and 32.07 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 on USD/THB only above 33.02, stop loss 32.77 and target of 33.15/33.32.
