- Analytics
- News and Tools
- Market News
- USD/THB could struggle to advance further north of 33.84 – UOB
USD/THB could struggle to advance further north of 33.84 – UOB
Quek Ser Leang at UOB Group’s Global Economics and Markets Research noted that a sustainable move above 33.84 in USD/THB looks out of favour for the time being.
Key Quotes
“The strong rise in USD/THB to a high of 33.74 last Friday came as a surprise (we were of the view that USD/THB could test the support at 33.10 last week). Daily MACD has turned positive and this bodes well for further USD/THB strength.”
“However, shorter-term conditions are overbought and while USD/THB could edge above 33.84 this week, it may not be able to maintain a foothold above this level (last month’s high at 34.00 is not expected to come into the picture). On the downside, a breach of 33.35 would indicate that the current upward pressure has eased.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
