FxWirePro: USD/THB trades in narrow range, good to sell on rallies
USD/THB is currently trading around 35.06 marks. It made intraday high at 35.07 and low at 35.04 marks. Intraday bias remains bearish till the time pair holds immediate resistance at 35.11 marks. On the top side key resi…
It made intraday high at 35.07 and low at 35.04 marks.
Intraday bias remains bearish till the time pair holds immediate resistance at 35.11 marks.
On the top side key resistances are seen at 35.11, 35.21, 35.33, 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
Alternatively, a daily close below 35.08 will drag the parity down towards key supports around 34.99, 34.85, 34.64, 34.51 and 34.20 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/THB around 35.07, stop loss 35.11 and target of 34.99/34.85.
