- USD/THB is currently trading around 32.52 marks.
- It made intraday high at 32.63 and low at 32.49 marks.
- Intraday bias remains neutral till the time pair holds key support at 32.50 mark.
- On the top side, key resistances are seen at 32.72, 32.91, 33.02, 33.18, 33.32, 33.54, 33.78 and 34.14 marks respectively.
- Alternatively, a daily close below 32.50 will drag the parity down towards key supports around 32.36, 32.10, 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. Current downside movement is short term trend correction only.
- Thailand’s trade balance stands at 1.590B vs 3.900B previous release (expected 2.800B).
We prefer to go long on USD/THB around 32.50, stop loss at 32.40 and target of 32.72/32.91.
