- USD/THB is currently trading around 32.81 marks.
- It made intraday high at 32.82 and low at 32.76 marks.
- Intraday bias remains neutral till the time pair moves in stiff boundaries from 32.90 to 32.50 marks.
- On the top side, key resistances are seen at 32.90, 33.05, 33.20, 33.37, 33.52, 33.78 and 33.96 marks respectively.
- Alternatively, a daily close below 32.66 will drag the parity down towards key supports around 32.51, 32.18, 32.02 and 31.85 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.