FxWirePro: USD/THB trades in narrow range, stay bearish only below 31.58 mark
USD/THB is currently trading around 31.64 marks. It made intraday high at 31.69 and low at 31.63 marks. Intraday bias remains bullish till the time pair holds key support at 31.58 mark. On the top side, key resistances a…
It made intraday high at 31.69 and low at 31.63 marks.
Intraday bias remains bullish till the time pair holds key support at 31.58 mark.
On the top side, key resistances are seen at 31.78, 31.92, 32.02, 32.10, 32.22 and 32.54 marks respectively.
Alternatively, a daily close below 31.58 will drag the parity down towards key supports around 31.42, 31.28, 31.20, 31.06, 30.94, 30.20 and 29.66 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 on USD/THB only below 31.58, stop loss 31.70 and target of 31.42 mark.
