- USD/THB is currently trading around 31.47 marks.
- It made intraday high at 31.49 and low at 31.43 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 31.50 mark.
- On the top side, key resistances are seen at 31.50, 31.65, 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 31.50 will drag the parity down towards key supports around 31.24, 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 Jan manufacturing prod y/y increase to 3.44 % (forecast 3 %) vs previous 2.35 %.
We prefer to take long position in USD/THB only above 31.50, stop loss at 31.24 and target of 31.92.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest