FxWirePro:USD/THB hovers around 31.54 mark, sustained close above requires for upside rally

• USD/THB is currently trading around 31.47 marks.
   
• It made intraday high at 31.57 and low at 31.45 marks.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 31.57 mark.
   
• On the top side, key resistances are seen at 31.57, 31.75, 31.92, 32.00, 32.13 and 32.28 marks respectively.
   
• Alternatively, a daily close below 31.54 will drag the parity down towards key supports around 31.30, 31.20, 31.01, 30.83, 30.68 and 30.40 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 take long position in USD/THB only above 31.57, stop loss at 31.30 and target of 31.92.

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