FxWirePro: USD/THB takes halt around 33.18 mark, short term trend reversal likely
USD/THB is currently trading around 33.11 marks. It made intraday high at 33.18 and low at 32.92 marks. Intraday bias remains slightly bearish till the time pair holds key resistance at 33.18 mark. On the top side, key r…
It made intraday high at 33.18 and low at 32.92 marks.
Intraday bias remains slightly bearish till the time pair holds key resistance at 33.18 mark.
On the top side, key resistances are seen at 33.32, 33.54, 33.78 and 34.14 marks respectively.
Alternatively, a daily close below 32.95 will drag the parity down towards key supports around 32.72, 32.56, 32.36, 32.10, 31.85, 31.56, 31.18 and 30.97 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go short on USD/THB around 32.90, stop loss at 33.10 and target of 32.72/32.56.
