• Fxwirepro:usd/thb continues to trade in rigid boundaries, stay neutral

    Source: FxWire Pro - Technicals / 19 Apr 2018 23:15:42   America/New_York

    • USD/THB is currently trading around 31.25 marks.
       
    • It made intraday high at 31.26 and low at 31.23 marks.
       
    • Intraday bias remains neutral till the time pair holds key resistance at 31.30 mark.
       
    • On the top side, key resistances are seen at 31.30, 31.50, 31.59, 31.75, 31.92, 32.00, 32.13 and 32.28 marks respectively.
       
    • Alternatively, a daily close below 31.12 will drag the parity down towards key supports around 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.
       
    • Thailand will release forex reserves and currency swap data at 0730 GMT.

    We prefer to take long position in USD/THB only above 31.30, stop loss at 31.10 and target of 31.59.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

Share on