FxWirePro: USD/THB trades in rigid directions, bias remains neutral

• USD/THB is currently trading around 33.08 marks.
   
• It made intraday high at 33.11 and low at 33.08 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 33.03 mark.
   
• A daily close below 33.11 will drag the parity down towards key supports around 33.03, 32.94, 32.85, 32.77 and 32.54 marks respectively.
   
• On the top side, key resistances are seen at 33.11, 33.21, 33.32, 33.43, 33.52, 33.77, 33.94, 34.10, 34.23, 34.34, 34.48, 34.55, 34.67 and 34.74 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.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest