- Analytics
- News and Tools
- Market News
- USD/THB: A potential drop to 34.58 appears on the cards – UOB
USD/THB: A potential drop to 34.58 appears on the cards – UOB
A potential retracement of USD/THB to the 34.58 level should not be ruled out in the near term, argues Markets Strategist Quek Ser Leang at UOB Group.
Key Quotes
USD/THB dropped sharply to low of 34.58 last Wednesday before ending the week on a weak note at 34.85 (-1.32%). Downward momentum has increased, albeit not much.
This week, as long as USD/THB stays below 35.22 (minor resistance is at 35.00), it could dip below 34.58 before a more sustained rebound is likely. The major support at 34.08 is unlikely to come under threat.
© 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
