- USD/THB is currently trading around 31.83 marks.
- It made intraday high at 31.83 and low at 31.76 marks.
- Intraday bias remains neutral till the time pair holds key support at 31.70 mark.
- On the top side, key resistances are seen at 31.92, 32.02, 32.10, 32.22 and 32.54 marks respectively.
- Alternatively, a daily close below 31.78 will drag the parity down towards key supports around 31.70, 31.58, 31.42, 31.28, 31.20 and 31.06 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
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.
