FxWirePro: USD/THB rejects key support at 31.97 mark, upside limited

• USD/THB is currently trading around 32.06 marks.
   
• It made intraday high at 32.10 and low at 31.99 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 31.99 mark.
   
• On the top side, key resistances are seen at 32.22, 32.48, 32.60 and 32.89 marks respectively.
   
• Alternatively, a daily close below 31.99 will drag the parity down towards key supports around 31.80, 31.68, 31.51, 31.30, 31.20, 31.01 and 30.83 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position in USD/THB only above 32.10, stop loss at 31.97 and target of 32.22/32.48.

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