FxWirePro: USD/THB breaks key support at 35.22, sustained close below targets 34.77
USD/THB is currently trading around 35.19 marks. It made intraday high at 35.25 and low at 35.12 marks. Intraday bias remains bearish for the moment. On the top side key resistances are seen at 35.45, 35.67, 35.90, 36.05…
It made intraday high at 35.25 and low at 35.12 marks.
Intraday bias remains bearish for the moment.
On the top side key resistances are seen at 35.45, 35.67, 35.90, 36.05, 36.44 and 36.66 marks respectively.
Alternatively, a daily close below 35.00 will drag the parity down towards key supports around 34.77, 34.51 and 34.20 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go short on USD/THB around 35.20, stop loss 35.45 and target 35.00/34.77.
