- USD/THB is currently trading around 32.40 marks.
- It made intraday high at 32.43 and low at 32.32 marks.
- Intraday bias remains neutral till the time holds key support at 32.32 mark.
- On the top side, key resistances are seen at 32.42, 32.59, 32.70, 32.90, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
- Alternatively, a daily close below 32.34 will drag the parity down towards key supports around 32.18, 32.02 and 31.85 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Thailand will release trade balance data at 0300 GMT.
We prefer to take short position on USD/THB only below 32.32, stop loss at 32.62 and target of 32.18/32.02.