FxWirePro: USD/THB trades in narrow range, Thailand’s economic data in focus
USD/THB is currently trading around 31.90 marks. It made intraday high at 31.96 and low at 31.89 marks. Intraday bias remains neutral till the time pair holds key support at 31.87 mark. On the top side, key resistances a…
It made intraday high at 31.96 and low at 31.89 marks.
Intraday bias remains neutral till the time pair holds key support at 31.87 mark.
On the top side, key resistances are seen at 32.10, 32.22 and 32.54 marks respectively.
Alternatively, a daily close below 31.92 will drag the parity down towards key supports around 31.70, 31.58, 31.42, 31.28, 31.20 and 31.06 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 trade balance, current account and private investment/consumption index data around 0730 GMT.
We prefer to take long position on USD/THB around 31.85, stop loss at 31.70 and target of 32.22/32.54.
