#USDTHB @ 33.8100 : Next resistance comes at 34.20 – UOB
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Markets Strategist Quek Ser Leang at UOB Group notes USD/THB faces a solid barrier at the 34.20 level.
“Last Monday (07 Feb, spot at 33.62), we highlighted that ‘deeply overbought conditions suggest USD/THB could consolidate for a couple of days first before heading higher’. While USD/THB subsequently consolidated, it did not make any headway on the upside. That said, short-term upward momentum is beginning to build and the bias for USD/THB this week is tilted to the upside.”
“Overall, barring a breach of 33.35 (minor support is at 33.55), the chance of USD/THB breaking 34.00 is increasing. Looking ahead, the next resistance above 34.00 is at 34.20.”
[/s2If]
Join Our Telegram Group
