FxWirePro: USD/THB touches 32.91 mark in early Asia, Thailand’s trade balance data in focus
Monday, March 23, 2020 2:12 AM UTC
- USD/THB is currently trading around 32.86 marks.
- It made intraday high at 32.91 and low at 32.68 marks.
- Intraday bias remains bullish till the time pair holds key support at 32.57 mark.
- On the top side, key resistances are seen at 32.94, 33.32, 33.54 and 34.14 marks respectively.
- Alternatively, a daily close below 32.57 will drag the parity down towards key supports around 32.40, 32.14, 31.85, 31.56, 31.18 and 30.97 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Thailand will release trade balance data around 0300 GMT.
We prefer to go long on USD/THB around 32.82, stop loss at 32.65 and target of 33.14/33.32.