• FxWirePro: USD/THB remains well supported above 32.30 Mark, thailand’s manufacturing production data in focus

    Source: FxWire Pro - Technicals / 24 Sep 2018 22:38:02   America/New_York

    • USD/THB is currently trading around 32.46 marks.
       
    • It made intraday high at 32.47 and low at 32.40 marks.
       
    • Intraday bias remains neutral till the time holds key support at 32.32 mark.
       
    • On the top side, key resistances are seen at 32.51, 32.70, 32.90, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
       
    • Alternatively, a daily close below 32.34 will drag the parity down towards key supports around 32.18, 32.02 and 31.85 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 manufacturing production data at 0400 GMT.

    We prefer to take short position on USD/THB only below 32.32, stop loss at 32.50 and target of 32.18/32.02.

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