• FxWirePro: Thai Baht rises gradually against U.S. Dollar, stay bearish

    Source: FxWire Pro - Technicals / 22 Jan 2018 23:38:24   Eastern Standard Time

    • USD/THB is currently trading around 31.83 marks.
    • It made intraday high at 31.86 and low at 31.79 marks.
    • Intraday bias remains bearish till the time pair holds immediate resistance at 32.00 mark.
    • A daily close below 31.84 will drag the parity down towards key supports around 31.73, 31.57 and 31.28 marks respectively.
    • On the top side, key resistances are seen at 32.00, 32.13, 32.28, 32.39, 32.46, 32.61 and 32.85 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 31.85, stop loss at 32.00 and target of 31.57.

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