• FxWirePro: Thai Baht falls gradually against U.S. Dollar, sustained close above 30.43 requires for upside rally

    Source: FxWire Pro - Technicals / 10 Nov 2019 11:29:57   America/New_York

    • USD/THB is currently trading around 30.40 marks.
       
    • It made intraday high at 30.44 and low at 30.39 marks.
       
    • Intraday bias remains neutral till the time pair holds key resistance at 30.43 mark.
       
    • On the top side, key resistances are seen at 30.43, 30.72, 30.97, 31.20, 31.50 and 31.70 marks respectively.
       
    • Alternatively, a daily close below 30.43 will drag the parity down towards key supports around 30.28, 30.16, 30.02, 29.84 and 29.55 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • Thailand will release forex reserves and currency swap data around 0730 GMT.

    We prefer to go long on USD/THB only above 30.44, stop loss at 30.25 and target of 30.72/30.97.

Share on,