• FxWirePro: USD/THB breaks key support at 32.57 mark, good sell on rallies

    Source: FxWire Pro - Technicals / 11 Dec 2017 21:42:21   Eastern Standard Time

    • USD/THB is currently trading around 32.60 marks.
       
    • It made intraday high at 32.62 and low at 32.55 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 32.70 mark.
       
    • A daily close below 32.62 will drag the parity down towards key supports around 32.55, 32.49, 32.41, 32.34 and 32.24 marks respectively.
       
    • On the top side, key resistances are seen at 32.70, 32.75, 32.86, 32.92, 33.03, 33.10, 33.22, 33.38, 33.46, 33.52, 33.77 and 33.94 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 32.60, stop loss at 32.70 and target of 32.49/32.34.

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