- USD/THB is currently trading around 31.56 marks.
- It made intraday high at 31.56 and low at 31.50 marks.
- Intraday bias remains neutral till the time pair holds key support at 31.50 mark.
- On the top side, key resistances are seen at 31.78, 31.92, 32.02, 32.10, 32.22 and 32.54 marks respectively.
- Alternatively, a daily close below 31.50 will drag the parity down towards key supports around 31.42, 31.28, 31.20 and 31.06 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 manufacturing production data around 0400 GMT.
We prefer to take short position on USD/THB only below 31.50, stop loss 31.78 and target of 31.20/31.06.