• FxWirePro: Thai Baht rises in early Asia, bias remains bearish

    Source: FxWire Pro - Technicals / 11 Feb 2019 21:30:21   America/New_York

    • USD/THB is currently trading around 31.36 marks.
       
    • It made intraday high at 31.44 and low at 31.36 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 31.50 mark.
       
    • On the top side, key resistances are seen at 31.47, 31.62, 31.70, 31.93, 32.02 and 32.10 marks respectively.
       
    • Alternatively, a daily close below 31.44 will drag the parity down towards key supports around  31.30, 31.18, 31.10 and 30.94 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 on USD/THB around 31.38, stop loss at 31.50 and target of 31.22 mark.

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