• FxWirePro: USD/THB hits fresh 2-month low at 32.72 Mark, thailand’s trade balance data in focus

    Source: FxWire Pro - Technicals / 20 Aug 2018 22:39:57   America/New_York

    • USD/THB is currently trading around 32.73 marks.
       
    • It made intraday high at 32.95 and low at 32.72 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 33.02 mark.
       
    • On the top side, key resistances are seen at 33.02, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
       
    • Alternatively, a daily close below 32.92 will drag the parity down towards key supports around 32.66, 32.50, 32.18 and 31.85 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
       
    • Thailand will release trade balance data at 0330 GMT.

    We prefer to take short position on USD/THB around 32.80, stop loss at 33.02 and target of 32.50.

Share on,