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FxWirePro: USD/THB rejects key resistance at 30.94 mark, good to sell on rallies

  • USD/THB is currently trading around 30.82 marks.
     
  • It made intraday high at 30.88 and low at 30.80 marks.
     
  • Intraday bias remainsbearish  till the time pair holds key resistance at 30.94 marks.
     
  • On the top side, key resistances are seen at  30.94, 31.20, 31.50, 31.70, 31.99, 32.10, 32.22 and 32.54 marks respectively.
     
  • Alternatively, a daily close below 30.70 will drag the parity down towards key supports around 30.56, 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 go short on USD/THB around 30.85, stop loss at 30.95 and target of 30.70/30.56 mark.

By Aarti Panchal
  • Market Data
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