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FxWirePro: USD/THB stabilizes below 30.20 mark, sustained close below 30.16 requires for downside rally

  • USD/THB is currently trading around 30.19 marks.
     
  • It made intraday high at 30.20 and low at 30.18 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 30.16 mark.
     
  • On the top side, key resistances are seen at 30.35, 30.43, 30.72, 30.97, 31.20, 31.50 and 31.70 marks respectively.
     
  • Alternatively, a daily close below 30.16 will drag the parity down towards key supports around 30.02, 29.84 and 29.55 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to go short on USD/THB around 30.20, stop loss at 30.35 and target of 30.02/29.84.

By Aarti Panchal
  • Market Data
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