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FxWirePro: USD/THB breaks key support at 33.10 mark, stay bearish

  • USD/THB is currently trading around 33.08 marks.
     
  • It made intraday high at 33.10 and low at 33.08 marks.
     
  • Intraday bias remains bearish till the time pair holds immediate resistance at 33.22 mark.
     
  • A daily close below 33.10 will drag the parity down towards key supports around 33.03, 32.94, 32.85, 32.77 and 32.54 marks respectively.
     
  • On the top side, key resistances are seen at 33.22, 33.38, 33.46, 33.52, 33.77, 33.94, 34.10, 34.23, 34.34, 34.48, 34.55, 34.67 and 34.74 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 33.10, stop loss at 33.22 and target of 33.03/32.85.

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