• FxWirePro: USD/THB fails to break key support at 32.76 mark, short term trend reversal likely

    Source: FxWire Pro - Technicals / 20 Nov 2017 21:48:10   Eastern Standard Time

    • USD/THB is currently trading around 32.84 marks.
       
    • It made intraday high at 32.86 and low at 32.81 marks.
       
    • Intraday bias remains bullish till the time pair holds immediate support at 32.76 mark.
       
    • A daily close below 32.82 will drag the parity down towards key supports around 32.76, 32.52, 32.40 and 32.34 marks respectively.
       
    • On the top side, key resistances are seen at 32.92, 33.03, 33.10, 33.22, 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. Current upside movement is short term trend correction only.

    We prefer to take short position in USD/THB around  32.93, stop loss at 33.03 and target of 32.52.

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