- USD/THB is currently trading around 33.12 marks.
- It made intraday high at 33.13 and low at 33.05 marks.
- Intraday bias remains neutral till the time pair holds key support at 33.02 mark.
- On the top side, key resistances are seen at 33.30, 33.48 and 33.78 marks respectively.
- Alternatively, a daily close below 33.02 will drag the parity down towards key supports around 32.90, 32.66 and 32.50 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.