FxWirePro: USD/THB trades in narrow range ahead of Bank of Thailand’s rate decision
USD/THB is currently trading around 33.99 marks. It made intraday high at 34.02 and low at 33.97 marks. Intraday bias remains neutral till the time pair holds key resistance at 34.02 mark. On the top side, key resistance…
It made intraday high at 34.02 and low at 33.97 marks.
Intraday bias remains neutral till the time pair holds key resistance at 34.02 mark.
On the top side, key resistances are seen at 34.02, 34.27, 34.34, 34.48, 34.55, 34.67, 34.74, 34.82, 34.97, 35.11 and 35.20 marks respectively.
Alternatively, a daily close below 33.90 will drag the parity down towards key supports around 33.82, 33.74, 33.58, 33.01 and 32.54 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
BOT will release interest rate decision at 0730 GMT.
We prefer to take long position in USD/THB only above 34.05, stop loss 33.90 and target of 34.27.
