FxWirePro: USD/THB trades in narrow range, stay bearish only below 31.92 mark

• USD/THB is currently trading around 31.99 marks.
   
• It made intraday high at 32.03 and low at 31.98 marks.
   
• Intraday bias remains neutral till the time pair holds immediate support at 31.92 mark.
   
• On the top side, key resistances are seen at 32.10, 32.22, 32.48, 32.70, 32.83 and 32.92 marks respectively.
   
• Alternatively, a daily close below 31.94 will drag the parity down towards key supports around  31.85, 31.60 and 31.24 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 31.92, stop loss at 32.22 and target of 31.60.