USD/THB faces solid support around 30.92 – UOB

Pablo Piovano FXStreet

Quek Ser Leang at UOB Group’s Global Economics & Markets Research noted further downside in USD/THB looks likely ahead of the solid support around 30.92.

Key Quotes

“USD/THB traded mostly sideways last week before dropping to 31.03 on Friday. Downward momentum has improved, albeit not by much.”

“For this week, USD/THB could drift lower but any weakness is unlikely to threaten the major support at 30.92. Resistance is at 31.18 but only a break of 31.28 would indicate that the current downside risk has dissipated.”

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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