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FxWirePro: USD/THB rejects key resistance at 35.73 mark, Thailand’s trade balance data in focus

  • USD/THB is currently trading around 35.54 marks.
     
  • It made intraday high at 35.62 and low at 35.53 marks.
     
  • Intraday bias remains bearish for the moment.
     
  • On the top side key resistances are seen at 35.73, 35.90, 36.05, 36.44 and 36.66 marks respectively.
     
  • Alternatively, a daily close below 35.62 will drag the parity down towards key supports around 35.52, 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.
  • Thailand will release trade balance data at 0400 GMT.

We prefer to take short position in USD/THB only below 35.52, stop loss at 35.70 and target of 35.23.

  • Market Data
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