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FxWirePro: USD/THB trades in narrow range, faces strong support at 31.27 mark

  • USD/THB is currently trading around 31.37 marks.
     
  • It made intraday high at 31.38 and low at 31.34 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 31.27 mark.
     
  • On the top side, key resistances are seen at 31.40, 31.50, 31.59, 31.75, 31.92, 32.00, 32.13, 32.28, 32.39, 32.46, 32.61 and 32.85 marks respectively.
     
  • Alternatively, a daily close below 31.36 will drag the parity down towards key supports around 31.27, 31.18, 31.11, 31.01 and 30.83 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 Forex reserves and currency swap data at 0730 GMT.

We prefer to take long position in USD/THB  around 31.35, stop loss at 31.27 and target of 31.58.

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2018-06-19 15:32:35
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2018-06-19 15:31:52
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