- USD/THB is currently trading around 31.46 marks.
- It made intraday high at 31.50 and low at 31.42 marks.
- Intraday bias remains bullish for the moment.
- On the top side, key resistances are seen at 31.62, 31.70, 31.93, 32.02 and 32.10 marks respectively.
- Alternatively, a daily close below 31.45 will drag the parity down towards key supports around 31.28, 31.20, 31.06, 30.94, 30.20 and 29.66 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.
- Thailand will release various economic data around 0730 GMT.
We prefer to take long position on USD/THB around 31.45, stop loss at 31.28 and target of 31.62 mark.
