USD/THB: Next up barrier comes at 33.30 – UOB

Quek Ser Leang at UOB Group’s Global Economics & Markets Research noted furher upside in USD/THB targets the 33.30 region.

Key Quotes

“We expected USD/THB to breach the 55-day exponential moving average last week. However, USD/THB traded mostly sideways before popping above the moving average earlier today. Upward momentum is beginning build and the chance of USD/THB breaking the declining trend-line resistance, currently at 33.05 has increased.”

“The next resistance levels above 33.05 are at 33.30 and 33.48. On the downside, 32.51 is acting as a solid support.”