• Fxwirepro:usd/thb consolidates around 31.50 Mark, stay bullish

    Source: FxWire Pro - Technicals / 25 Apr 2018 21:44:59   America/New_York

    • USD/THB is currently trading around 31.54 marks.
       
    • It made intraday high at 31.56 and low at 31.51 marks.
       
    • Intraday bias remains slightly bullish till the time pair holds key support at 31.40 mark.
       
    • On the top side, key resistances are seen at 31.56, 31.75, 31.92, 32.00, 32.13 and 32.28 marks respectively.
       
    • Alternatively, a daily close below 31.40 will drag the parity down towards key supports around 31.30, 31.20, 31.01, 30.83, 30.68 and 30.40 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 31.52, stop loss at 31.40 and target of 31.75/31.92.

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