- USD/THB is currently trading around 33.07 marks.
- It made intraday high at 33.09 and low at 33.05 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. Current upside movement is short term trend correction only.
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.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest