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FxWirePro: USD/THB exhibits range bound movement, stay neutral

Monday, September 9, 2019 3:17 AM UTC

USD/THB is currently trading around 30.66 marks.
It made intraday high at 30.67 and low at 30.63 marks.
Intraday bias remains neutral till the time pair moves in stiff boundaries from 30.55 to 30.70 mark.
On the top side, key resistances are seen at 30.90, 31.20, 31.50, 31.70 and 31.99 marks respectively.
Alternatively, a daily close below 30.55 will drag the parity down towards key supports around 30.18 and 30.02 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 long position on USD/THB only above 30.70, stop loss at 30.55 and target of 30.90/31.20.

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FxWirePro: USD/THB exhibits range bound movement, stay neutral

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