• FxWirePro: USD/THB stabilizes below 31.70 Mark, stay bearish

    Source: FxWire Pro - Technicals / 12 Mar 2019 22:56:54   America/New_York

    • USD/THB is currently trading around 31.65 marks.
       
    • It made intraday high at 31.67 and low at 31.62 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 31.92 mark.
       
    • On the top side, key resistances are seen at 31.92, 32.02, 32.10, 32.22 and 32.54 marks respectively.
       
    • Alternatively, a daily close below 31.65 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 31.66, stop loss 31.92 and target of 31.54/31.42 mark.

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