• FxWirePro: USD/THB slips below 31.60 Mark, stay bearish

    Source: FxWire Pro - Technicals / 13 Mar 2019 22:33:34   America/New_York

    • USD/THB is currently trading around 31.60 marks.
       
    • It made intraday high at 31.62 and low at 31.58 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 31.70 mark.
       
    • On the top side, key resistances are seen at 31.70, 31.92, 32.02, 32.10, 32.22 and 32.54 marks respectively.
       
    • Alternatively, a daily close below 31.60 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.

    We prefer to take short position on USD/THB around 31.61, stop loss 31.72 and target of 31.54/31.42 mark.

Share on,