USD/THB: Next resistance of note comes in at 31.75 – UOB

Pablo Piovano FXStreet

The upside momentum in USD/THB remains well and sound and faces the next tough hurdle at the 31.75 level, noted Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“We did not anticipate the strong surge in USD/THB last week. The rally is accompanied by strong momentum and a break of the year-todate high at 31.60 would not be surprising.”

“However, shorter-term conditions are deeply overbought and the next resistance at 31.75 could be out of reach within this week. Support is at 31.35 followed by 31.20.”

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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