- USD/THB is currently trading around 33.65 marks.
- It made intraday high at 33.67 and low at 33.58 marks.
- Intraday bias remains bullish till the time pair holds key support at 33.56 mark.
- On the top side, key resistances are seen at 33.77, 33.94, 34.10, 34.23, 34.34, 34.48, 34.55, 34.67, 34.74, 34.82, 34.97, 35.11 and 35.20 marks respectively.
- Alternatively, a daily close below 33.60 will drag the parity down towards key supports around 33.01 and 32.54 marks respectively.
- Important to note here that 20, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Thailand will release trade balance data at 0700 GMT.
We prefer to take long position in USD/THB around 33.62, stop loss 33.55 and target of 33.77/33.85.
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