FxWirePro: USD/THB remains well supported above 32.00 mark, faces key resistance at 32.22
USD/THB is currently trading around 32.12 marks. It made intraday high at 32.13 and low at 32.06 marks. Intraday bias remains bullish till the time pair holds key support at 32.02 mark. On the top side, key resistances a…
It made intraday high at 32.13 and low at 32.06 marks.
Intraday bias remains bullish till the time pair holds key support at 32.02 mark.
On the top side, key resistances are seen at 32.22, 32.60 and 32.89 marks respectively.
Alternatively, a daily close below 32.02 will drag the parity down towards key supports around 31.92, 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.
Thailand will release forex reserves and currency swap data at 0730 GMT.
We prefer to take long position in USD/THB around 32.10, stop loss at 31.90 and target of 32.60.
