- USD/THB is currently trading around 30.58 marks.
- It made intraday high at 30.58 and low at 30.52 marks.
- Intraday bias remains bullish for the moment.
- On the top side, key resistances are seen at 30.70, 30.97, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
- Alternatively, a daily close below 30.47 will drag the parity down towards key supports around 30.35, 30.24, 30.12 and 30.02 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go long on USD/THB only above 30.60, stop loss at 30.47 and target of 30.70/30.97.