USD/THB faces extra consolidation near term – UOB

Pablo Piovano FXStreet

Markets Strategist Quek Ser Leang at UOB Group expects USD/THB to remain side-lined in the short-term horizon.

Key Quotes

“Last Monday (17 Apr, spot at 34.33), we held the view that USD/THB ‘is likely to trade with an upward bias but a sustained rise above 34.55 is unlikely’. Our expectation did not materialize as USD/THB traded in a quiet manner between 34.22 and 34.51.”

“The price movements appear to be consolidative and this week, we expect USD/THB to trade in a range, likely between 34.07 and 34.55.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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