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FxWirePro: Thai baht rises gradually against U.S. dollar, stay bearish

  • USD/THB is currently trading around 32.76 marks.
     
  • It made intraday high at 32.83 and low at 32.73 marks.
     
  • Intraday bias remains bearish for the moment.
     
  • On the top side, key resistances are seen at 32.92, 33.07, 33.15, 33.32 and 33.52 marks respectively.
     
  • Alternatively, a daily close below 32.72 will drag the parity down towards key supports around 32.65, 32.57, 32.42, 32.20 and 32.07 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/THN around 32.78, stop loss at 32.92 and target of 32.65/32.42.

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