• FxWirePro: USD/THB hits fresh 3-month low at 32.33 Mark, further downside likely

    Source: FxWire Pro - Technicals / 19 Sep 2018 23:48:49   America/New_York

    • USD/THB is currently trading around 32.34 marks.
       
    • It made intraday high at 32.42 and low at 32.33 marks.
       
    • Intraday bias remains bearish till the time holds key resistance at 32.70 mark.
       
    • On the top side, key resistances are seen at 32.70, 32.90, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
       
    • Alternatively, a daily close below 32.50 will drag the parity down towards key supports around 32.32, 32.18, 32.02 and 31.85 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 32.38, stop loss at 32.62 and target of 32.18.

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