- USD/THB is currently trading around 31.24 marks.
- It made intraday high at 31.26 and low at 31.20 marks.
- Intraday bias remains bullish till the time pair holds key support at 31.20 marks.
- On the top side, key resistances are seen at 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
- Alternatively, a daily close below 31.20 will drag the parity down towards key supports around 31.06, 30.87 and 30.65 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 only below 31.20, stop loss at 31.38 and target of 30.87.