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FxWirePro: USD/THB rejects key support at 31.28 mark, Thailand’s CPI data in focus

Tuesday, June 4, 2019 2:24 AM UTC

USD/THB is currently trading around 31.39 marks.
It made intraday high at 31.40 and low at 31.30 marks.
Intraday bias remains bearish till the time pair holds key resistance at 31.70 marks.
On the top side, key resistances are seen at 31.70, 31.94, 32.10, 32.22 and 32.54 marks respectively.
Alternatively, a daily close below 31.30 will drag the parity down towards key supports around 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.
Thailand will release CPI as well as core CPI data around 0330 GMT.

We prefer to take short position on USD/THB around 31.45, stop loss at 31.70 and target of 31.28/31.06.

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FxWirePro: USD/THB rejects key support at 31.28 mark, Thailand’s CPI data in focus

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