FxWirePro: USD/THB trades in narrow range, bias remains neutral
USD/THB is currently trading around 34.61 marks. It made intraday high at 34.63 and low at 34.59 marks. Intraday bias remains bullish till the time pair holds key support at 34.50 mark. On the top side, key resistances a…
It made intraday high at 34.63 and low at 34.59 marks.
Intraday bias remains bullish till the time pair holds key support at 34.50 mark.
On the top side, key resistances are seen at 34.67, 34.85, 34.97, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.
Alternatively, a daily close below 34.50 will drag the parity down towards key supports around 34.45, 34.35, 34.20 and 34.01 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
