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FxWirePro: USD/THB hovers around key support at 33.22 mark, sustained close below targets 33.03 mark

USD/THB hovers around key support at 33.22 mark, sustained close below targets 33.03 mark

  • USD/THB is currently trading around 33.22 marks.
  • It made intraday high at 33.23 and low at 33.21 marks.
  • Intraday bias remains neutral till the time pair holds key support at 33.22 mark.
  • A daily close below 33.22 will drag the parity down towards key supports around 33.10, 33.03, 32.94, 32.85, 32.77 and 32.54 marks respectively.
  • On the top side, key resistances are seen at 33.38, 33.46, 33.52, 33.77, 33.94, 34.10, 34.23, 34.34, 34.48, 34.55, 34.67 and 34.74 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 on USD/THB around 33.23, stop loss at 33.32 and target of 33.10/33.03 mark.

Our chart for the call

 

 

 

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