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FxWirePro: USD/THB back below 31.30 mark, stay bearish

  • USD/THB is currently trading around 31.29 marks.
     
  • It made intraday high at 31.36 and low at 31.28 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 31.50 mark.
     
  • On the top side, key resistances are seen at 31.44, 31.62, 31.70, 31.93, 32.02 and 32.10 marks respectively.
     
  • Alternatively, a daily close below 31.31 will drag the parity down towards key supports around 31.18, 31.10 and 30.94 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 on USD/THB around 31.30, stop loss at 31.44 and target of 31.18 mark.
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