- USD/THB is currently trading around 31.22 marks.
- It made intraday high at 31.26 and low at 31.19 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.30 mark.
- On the top side, key resistances are seen at 31.30, 31.50, 31.59, 31.75, 31.92, 32.00, 32.13 and 32.28 marks respectively.
- Alternatively, a daily close below 31.24 will drag the parity down towards key supports around 31.12, 31.01, 30.83, 30.68 and 30.40 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 manufacturing production data at 0400 GMT.
- In addition, Thailand will release current account, trade balance, forex reserves, private investment index, private consumption index and currency swap data around 0730 GMT.
We prefer to take long position in USD/THB only above 31.30, stop loss at 31.08 and target of 31.59/31.75.
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