Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/THB remains well supported below 32.00 mark, good to sell on rallies

  • USD/THB is currently trading around 31.87 marks.
     
  • It made intraday high at 31.93 and low at 31.86 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 32.06 mark.
     
  • On the top side, key resistances are seen at 31.93, 32.06, 32.22, 32.48, 32.60 and 32.89 marks respectively.
     
  • Alternatively, a daily close below 31.93 will drag the parity down towards key supports around 31.80, 31.68, 31.51, 31.30 and 31.20 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 short position in USD/THB around 31.90, stop loss at 32.06 and target of 31.51.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.