• FxWirePro: Thai Baht falls sharply in early Asia, bias remains bullish

    Source: FxWire Pro - Technicals / 26 Dec 2017 22:11:52   America/New_York

    • USD/THB is currently trading around 32.83 marks.
       
    • It made intraday high at 32.83 and low at 32.76 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 32.70 mark.
       
    • A daily close below 32.76 will drag the parity down towards key supports around 32.50, 32.44, 32.34 and 32.24 marks respectively.
       
    • On the top side, key resistances are seen at 32.87, 32.92, 33.03, 33.10, 33.22, 33.38, 33.46, 33.52, 33.77 and 33.94 marks respectively.
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

    We prefer to take long position in USD/THB around 32.80, stop loss at 32.70 and target of 32.92/33.03.

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