• FxWirePro: USD/THB hovers around key resistance at 32.72 mark, sustained close above requires for upside rally

    Source: FxWire Pro - Technicals / 21 Dec 2017 22:32:37   Eastern Standard Time

    • USD/THB is currently trading around 32.73 marks.
       
    • It made intraday high at 32.74 and low at 32.71 marks.
       
    • Intraday bias remains neutral for the moment.
       
    • A daily close below 32.72 will drag the parity down towards key supports around 32.50, 32.44, 32.34 and 32.24 marks respectively.
       
    • On the top side, key resistances are seen at 32.76, 32.87, 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. Current upside movement is short term trend correction only.

    We prefer to take long position in USD/THB only above 32.76, stop loss at 32.64 and target of 32.92.

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