• FxWirePro: USD/THB stabilizes above 30.30 Mark, sustained close below requires for downside rally

    Source: FxWire Pro - Technicals / 12 Nov 2019 22:41:32   America/New_York

    • USD/THB is currently trading around 30.32 marks.
       
    • It made intraday high at 30.35 and low at 30.32 marks.
       
    • Intraday bias remains neutral till the time pair holds key support at 30.35 mark.
       
    • On the top side, key resistances are seen at 30.43, 30.72, 30.97, 31.20, 31.50 and 31.70 marks respectively.
       
    • Alternatively, a daily close below 30.34 will drag the parity down towards key supports around 30.28, 30.16, 30.02, 29.84 and 29.55 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 go short on USD/THB only below 30.30, stop loss at 30.42 and target of 30.16/30.02.

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