USD/THB: Next resistance comes at 34.20 – UOB – by pabspiovano Thailand Currencies Crosses Banks
“Last Monday , we highlighted that ‘deeply overbought conditions suggest USD/THB could consolidate for a couple of days first before heading higher’. While USD/THB subsequently consolidated, it did not make any headway on the upside. That said, short-term upward momentum is beginning to build and the bias for USD/THB this week is tilted to the upside.”
“Overall, barring a breach of 33.35 , the chance of USD/THB breaking 34.00 is increasing. Looking ahead, the next resistance above 34.00 is at 34.20.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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