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FxWirePro: USD/THB remains well supported above 32.60 mark, stay bullish

  • USD/THB is currently trading around 32.75 marks.
     
  • It made intraday high at 32.76 and low at 32.67 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 32.60 mark.
     
  • On the top side, key resistances are seen at 32.89, 33.07, 33.24 and 33.48 marks respectively.
     
  • Alternatively, a daily close below 32.74 will drag the parity down towards key supports around 32.60, 32.50, 32.22, 32.10, 31.97, 31.90 and 31.68 marks respectively.
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    We prefer to take long position in USD/THB around 32.72, stop loss at 32.60 and target of 33.07.
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