• FxWirePro: USD/THB slips below 32.60 Mark, good to sell on rallies

    Source: FxWire Pro - Technicals / 16 Oct 2018 23:38:45   America/New_York

    • USD/THB is currently trading around 32.53 marks.
       
    • It made intraday high at 32.56 and low at 32.49 marks.
       
    • Intraday bias remains neutral for the moment.
       
    • On the top side, key resistances are seen at 32.60, 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
       
    • Alternatively, a daily close below 32.49 will drag the parity down towards key supports around 32.27, 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.

    We prefer to take short position on USD/THB around 32.55, stop loss 32.72 and target of 32.27.

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