- USD/THB is currently trading around 31.70 marks.
- It made intraday high at 31.71 and low at 31.67 marks.
- Intraday bias remains bullish till the time pair holds key support at 31.50 mark.
- On the top side, key resistances are seen at 31.75, 31.92, 32.00, 32.13 and 32.28 marks respectivel.
- Alternatively, a daily close below 31.68 will drag the parity down towards key supports around 31.50, 31.30, 31.20, 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. Current upside movement is short term trend correction only.
- Thai April consumer confidence index at 80.9 vs 79.9 in March.
We prefer to take long position in USD/THB around 31.70, stop loss at 31.53 and target of 31.92.
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