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…
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.
