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FxWirePro: USD/THB trades in narrow range, stay bearish only below 32.64 mark

  • USD/THB is currently trading around 32.68 marks.
     
  • It made intraday high at 32.70 and low at 32.64 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 32.64 mark.
     
  • On the top side, key resistances are seen at 32.95, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
     
  • Alternatively, a daily close below 32.66 will drag the parity down towards key supports around 32.50, 32.18 and 31.85 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 short position on USD/THB only below 32.64, stop loss at 32.95 and target of 32.50.

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