- USD/THB is currently trading around 31.22 marks.
- It made intraday high at 31.26 and low at 31.17 marks.
- Intraday bias remains bullish till the time pair holds key support at 31.10 mark.
- On the top side, key resistances are seen at 31.21, 31.32, 31.50, 31.70 and 31.92 marks respectively.
- Alternatively, a daily close below 31.11 will drag the parity down towards key supports around 30.97, 30.87, 30.70, 30.56, 30.37, 30.15, 29.96 and 29.72 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go long on USD/THB around 31.20, stop loss at 31.10 and target of 31.50/31.70.