- USD/THB is currently trading around 31.34 marks.
- It made intraday high at 31.36 and low at 31.29 marks.
- Intraday bias remains neutral till the time pair holds key support at 31.30 marks.
- On the top side, key resistances are seen at 31.50, 31.70, 31.94, 32.10, 32.22 and 32.54 marks respectively.
- Alternatively, a daily close below 31.31 will drag the parity down towards key supports around 31.20, 31.06, 30.88 and 30.52 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Thailand will release forex reserves and currency swap data around 0730 GMT.
We prefer to take short position on USD/THB only below 31.30, stop loss at 31.50 and target of 31.06/30.88.
