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FxWirePro: USD/THB exhibits range bound movement, bias remains neutral

  • USD/THB is currently trading around 35.63 marks.
     
  • It made intraday high at 35.69 and low at 35.60 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 35.70 marks.
     
  • On the top side key resistances are seen at 35.70, 35.90, 36.05, 36.44 and 36.66 marks respectively.
     
  • Alternatively, a daily close below 35.58 will drag the parity down towards key supports around 35.41, 35.23, 35.04, 34.83, 34.64, 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.

We prefer to take long position in USD/THB only above 35.70, stop loss at 35.58 and target of 35.90.

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