USD/THB: Interim top at 35.60? – UOB
|In the view of Markets Strategist Quek Ser Leang at UOB Group, USD/THB could have charted an interim top at 35.60 for the time being.
Key Quotes
USD/THB soared to a high of 35.60 last Thursday (17 Aug) before pulling back. The pullback in overbought conditions and waning upward momentum indicate that USD/THB has likely moved into a consolidation phase. To look at it another way, 35.60 could be an interim top.
The pullback could extend to 34.95, even though any decline is likely part of a broad 34.95/35.60 consolidation range. In other words, a clear break below 34.95 is unlikely.
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. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.