• FxWirePro: USD/THB hovers around 31.80 Mark, sustained close above requires for upside rally

    Source: FxWire Pro - Technicals / 03 Mar 2019 22:01:37   America/New_York

    • USD/THB is currently trading around 31.78 marks.
       
    • It made intraday high at 31.83 and low at 31.73 marks.
       
    • Intraday bias remains neutral for the moment.
       
    • On the top side, key resistances are seen at 31.93, 32.02 and 32.10 marks respectively.
       
    • Alternatively, a daily close below 31.80 will drag the parity down towards key supports around 31.54, 31.42, 31.28, 31.20, 31.06, 30.94, 30.20 and 29.66 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 long position on USD/THB only above 31.83, stop loss at 31.70 and target of 31.93/32.02 mark.

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