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FxWirePro: USD/THB moves in stiff boundaries, stay neutral

  • USD/THB is currently trading around 32.82 marks.
     
  • It made intraday high at 32.91 and low at 32.81 marks.
     
  • Intraday bias remains neutral till the time pair moves in stiff boundaries from 32.90 to 32.70 marks.
     
  • On the top side, key resistances are seen at 32.92, 33.07, 33.15, 33.32 and 33.52 marks respectively.
     
  • Alternatively, a daily close below 32.72 will drag the parity down towards key supports around 32.65, 32.57, 32.42, 32.20 and 32.07 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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