• FxWirePro: USD/THB moves in stiff boundaries, sustained close below 31.91 requires for downside rally

    Source: FxWire Pro - Technicals / 24 May 2018 23:13:06   America/New_York

    • USD/THB is currently trading around 32.01 marks.
       
    • It made intraday high at 32.06 and low at 31.99 marks.
       
    • Intraday bias remains neutral for the moment.
       
    • On the top side, key resistances are seen at 32.10, 32.22, 32.48, 32.60 and 32.89 marks respectively.
       
    • Alternatively, a daily close below 31.91 will drag the parity down towards key supports around 31.80, 31.68, 31.51, 31.30 and 31.20 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 forex reserves and currency swap data at 0730 GMT.

    We prefer to take short position in USD/THB only below 31.91, stop loss at 32.22 and target of 31.51.

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