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- USD/THB is currently trading around 34.05 marks.
- It made intraday high at 34.08 and low at 34.03 marks.
- Intraday bias remains neutral till the time pair holds key support at 34.00 marks.
- On the top side, key resistances are seen at 34.08, 34.23, 34.34, 34.48, 34.55, 34.67, 34.74, 34.82, 34.97, 35.11 and 35.20 marks respectively.
- Alternatively, a daily close below 34.00 will drag the parity down towards key supports around 33.94, 33.74, 33.58, 33.01 and 32.54 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.
- Thailand will release currency swap and forex reserves data at 0730 GMT.
We prefer to take long position in USD/THB only below 33.95, stop loss at 34.23 and target of 33.58/33.01.
