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FxWirePro: USD/THB exhibits range bound movement, stay bearish only below 33.03 mark

  • USD/THB is currently trading around 33.09 marks.
     
  • It made intraday high at 33.11 and low at 33.07 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 33.03 mark.
     
  • A daily close below 33.03 will drag the parity down towards key supports around 32.94, 32.85, 32.77 and 32.54 marks respectively.
     
  • On the top side, key resistances are seen at 33.11, 33.18, 33.25, 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 on USD/THB only below 33.03, stop loss at 33.18 and target of 32.94/32.85 mark.

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