• FxWirePro: USD/THB moves in stiff boundaries, stay neutral

    Source: FxWire Pro - Technicals / 07 Mar 2019 22:46:15   America/New_York

    • USD/THB is currently trading around 31.81 marks.
    • It made intraday high at 31.88 and low at 31.77 marks.
    • Intraday bias remains neutral till the time pair holds key resistance at 31.92 mark.
    • On the top side, key resistances are seen at 31.92, 32.02, 32.10, 32.22 and 32.54 marks respectively.
    • Alternatively, a daily close below 31.76 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.

    Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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