• FxWirePro: Thai Baht falls sharply against U.S. Dollar, stay bullish

    Source: FxWire Pro - Technicals / 17 Jun 2018 22:43:44   America/New_York

    • USD/THB is currently trading around 32.73 marks.
       
    • It made intraday high at 32.73 and low at 32.60 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 32.50 mark.
       
    • On the top side, key resistances are seen at 32.89, 33.07, 33.24 and 33.48 marks respectively.
       
    • Alternatively, a daily close below 32.66 will drag the parity down towards key supports around 32.50, 32.22, 32.10, 31.97, 31.90 and 31.68 marks respectively.
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    We prefer to take long position in USD/THB around 32.68, stop loss at 32.50 and target of 33.07.

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