- USD/THB is currently trading around 31.40 marks.
- It made intraday high at 31.49 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 31.31 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. Current upside movement is short term trend correction only.
We prefer to take short position on USD/THB around 31.45, stop loss at 31.70 and target of 31.28/31.06.
