USD/THB now looks side-lined within 37.90-38.46 – UOB

Pablo Piovano FXStreet

Markets Strategist Quek Ser Leang at UOB Group’s Global Economics & Markets Research suggests USD/THB is expected to trade within the 37.90-38.46 range in the short-term horizon.

Key Quotes

“We highlighted last Monday that ‘There is room for USD/THB to test Sep‘s high of 38.46 before the risk of a pullback increases’. While USD/THB rose to a high of 38.46 last Thursday, the pullback from the high has been relatively limited.”

“The price movement appears to be part of a consolidation phase. For this week, USD/THB is likely to trade sideways, expected to be between 37.90 and 38.4. Looking ahead, if USD/THB breaks above 38.46, the focus will shift to 38.55.”

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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