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FxWirePro: Thai baht strengthens in early Asia, hits highest level since April 2015

  • USD/THB is currently trading around 32.45 marks.
     
  • It made intraday high at 32.45 and low at 32.40 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 32.61 mark.
     
  • A daily close below 32.42 will drag the parity down towards key supports around 32.34, 32.24, 31.93 and 31.75 marks respectively.
     
  • On the top side, key resistances are seen at 32.61, 32.85, 32.92, 33.03, 33.10, 33.22, 33.38, 33.46, 33.52, 33.77 and 33.94 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 in USD/THB around 32.50, stop loss at 32.62 and target of 32.34/32.24/32.08.

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