• FxWirePro: USD/THB remains well supported above 31.20 Mark, bias remains bullish

    Source: FxWire Pro - Technicals / 24 Feb 2019 22:31:55   America/New_York

    • USD/THB is currently trading around 31.30 marks.
       
    • It made intraday high at 31.33 and low at 31.26 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 31.20 mark.
       
    • On the top side, key resistances are seen at 31.30, 31.44, 31.62, 31.70, 31.93, 32.02 and 32.10 marks respectively.
       
    • Alternatively, a daily close below 31.22 will drag the parity down towards key supports around 31.10, 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. Current upside movement is short term trend correction only.

    We prefer to take long position on USD/THB only above 31.35, stop loss at 31.20 and target of 31.44/31.62 mark.

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