22.03.201722:29:00UTC+00Fxwirepro: Usd/thb Fails to Break Key Support at 34.50 Mark, Short Term Trend Reversal Likely

• USD/THB is currently trading around 34.63 marks.
   
• It made intraday high at 34.64 and low at 34.54 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 34.50 mark.
   
• On the top side key resistances are seen at 34.72, 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 34.54 will drag the parity down towards key supports around 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 long position in USD/THB around 34.60, stop loss at 34.50 and target of 34.72/34.85.