- USD/THB is currently trading around 35.17 marks.
- It made intraday high at 35.41 and low at 34.94 marks.
- Intraday bias remains bearish for the moment.
- On the top side key resistances are seen at 35.90, 36.05, 36.44 and 36.66 marks respectively.
- Alternatively, a daily close below 35.45 will drag the parity down towards key supports around 35.28, 35.06, 34.77, 34.51 and 34.20 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Thailand will release Forex reserves and Currency swaps data at 0730 GMT.
We prefer to go long on USD/THB around 34.95, stop loss 34.55 and target 35.48/35.90/36.05/36.44.