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FxWirePro: USD/THB hovers around 30.90 mark, sustained close above 30.90 requires for upside rally

  • USD/THB is currently trading around 30.90 marks.
     
  • It made intraday high at 30.91 and low at 30.81 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 30.70 marks.
     
  • On the top side, key resistances are seen at 30.90, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
     
  • Alternatively, a daily close below 30.56 will drag the parity down towards key supports around 30.42, 30.28 and 30.12 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take long position on USD/THBaround 30.88, stop loss at 30.80 and target of 31.20/31.50.

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