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FxWirePro: USD/THB hovers around key support at 30.70 mark, sustained close  below requires for downside rally

  • USD/THB is currently trading around 30.76 marks.
     
  • It made intraday high at 30.85 and low at 30.73 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 30.90 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 30.81 will drag the parity down towards key supports around 30.70, 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 short position on USD/THB around 30.80, stop loss at 30.90 and target of 30.70/ 30.42/30.28.

By Aarti Panchal
  • Market Data
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