• FxWirePro: USD/THB moves directionless, thailand’s various economic data in focus

    Source: FxWire Pro - Technicals / 01 Dec 2019 09:29:46   America/New_York

    • USD/THB is currently trading around 30.22 marks.
       
    • It made intraday high at 30.23 and low at 30.21 marks.
       
    • Intraday bias remains neutral till the time pair holds key resistance at 30.25 mark.
       
    • On the top side, key resistances are seen at 30.25, 30.43, 30.72, 30.97, 31.20, 31.50 and 31.70 marks respectively.
       
    • Alternatively, a daily close below 30.16 will drag the parity down towards key supports around 30.02, 29.84 and 29.55 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • Thailand will release current account, trade balance and forex reserves data around 0730 GMT.

    We prefer to go short on USD/THB only below 30.15, stop loss at 30.25 and target of 30.02/29.84.

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