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FxWirePro: USD/ZAR extends decline, scope for further downside 
- USD/THB is currently trading around 31.16 marks.
- It made intraday high at 31.20 and low at 31.16 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.30 mark.
- On the top side, key resistances are seen at 31.30, 31.50, 31.59, 31.75, 31.92, 32.00, 32.13, 32.28, 32.39, 32.46, 32.61 and 32.85 marks respectively.
- Alternatively, a daily close below 31.20 will drag the parity down towards key supports around 31.08, 31.01 and 30.83 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 take short position in USD/THB around 31.18, stop loss at 31.30 and target of 31.08/31.01.
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