- USD/THB is currently trading around 31.70 marks.
- It made intraday high at 31.80 and low at 31.66 marks.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 31.94 mark.
- On the top side, key resistances are seen at 31.94, 32.02, 32.10, 32.22 and 32.54 marks respectively.
- Alternatively, a daily close below 31.74 will drag the parity down towards key supports around 31.50, 31.42, 31.28, 31.20 and 31.06 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Thailand March 2019 manufacturing PMI increase to 50.3 vs previous 49.9.
- Thailand will release CPI as well as core CPI data around 0400 GMT.
We prefer to take short position on USD/THB around 31.74, stop loss 31.82 and target of 31.50.
