Fxwirepro: Thai Baht Erases Previous Gain Against U.s. Dollar, Upside Limited


  • USD/THB is currently trading around 34.77 marks.
     
  • It made intraday high at 34.77 and low at 34.64 marks.
     
  • Intraday bias remains slightly bullish for the moment.
     
  • On the top side key resistances are seen at 34.85, 34.97, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.
     
  • Alternatively, a daily close below 34.65 will drag the parity down towards key supports around 34.51, 34.20 and 34.01 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 short position in USD/THB around 34.80, stop loss at 34.97 and target of 34.61/34.51.


Published: 2017-03-21 02:46:00 UTC+00