- USD/THB is currently trading around 31.86 marks.
- It made intraday high at 31.92 and low at 31.80 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.92 mark.
- On the top side, key resistances are seen at 31.92, 32.05, 32.13, 32.28, 32.60 and 32.89 marks respectively.
- Alternatively, a daily close below 31.92 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. Current downside movement is short term trend correction only.
We prefer to take long position in USD/THB around 31.82, stop loss at 31.68 and target of 32.13.
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