• FxWirePro: USD/THB hits fresh 9 - month high at 31.87 Mark, thailand’s industrial production data in focus

    Source: FxWire Pro - Technicals / 25 Feb 2020 21:13:55   America/New_York

    • USD/THB is currently trading around 31.85 marks.
       
    • It made intraday high at 31.87 and low at 31.72 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 31.56 mark.
       
    • On the top side, key resistances are seen at 31.92, 32.14, 32.48 and 33.23 marks respectively.
       
    • Alternatively, a daily close below 31.74 will drag the parity down towards key supports around 31.56, 31.40, 31.18, 30.97, 30.87, 30.70 and 30.56 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 industrial production data around 0400 GMT.

    We prefer to go long on USD/THB around 31.80, stop loss at 31.55 and target of 31.92/32.14.

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