#USDTHB @ 38.2600 now looks side-lined within 37.90-38.46 – UOB
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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.
“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.”
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