• FxWirePro: USD/THB rejects key support at 31.97 Mark, upside limited

    Source: FxWire Pro - Technicals / 23 May 2018 00:14:33   America/New_York

    • USD/THB is currently trading around 32.06 marks.
       
    • It made intraday high at 32.10 and low at 31.99 marks.
       
    • Intraday bias remains neutral till the time pair holds key support at 31.99 mark.
       
    • On the top side, key resistances are seen at 32.22, 32.48, 32.60 and 32.89 marks respectively.
       
    • Alternatively, a daily close below 31.99 will drag the parity down towards key supports around 31.80, 31.68, 31.51, 31.30, 31.20, 31.01 and 30.83 marks respectively.
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    We prefer to take long position in USD/THB only above 32.10, stop loss at 31.97 and target of 32.22/32.48.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

Share on