Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Thai baht erases previous loss against U.S. dollar, short term trend reversal likely

  • USD/THB is currently trading around 31.67 marks.
     
  • It made intraday high at 31.77 and low at 31.67 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 31.77 mark.
     
  • On the top side, key resistances are seen at 31.77, 31.92, 32.00, 32.13 and 32.28 marks respectivel.
     
  • Alternatively, a daily close below 31.77 will drag the parity down towards key supports around 31.67, 31.50, 31.30, 31.20, 31.01 and 30.83 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 long position in USD/THB around 31.60, stop loss at 31.49 and target of 31.77/31.92.

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

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.