- Analytics
- News and Tools
- Market News
- USD/THB: Further bounce appears likely – UOB
USD/THB: Further bounce appears likely – UOB
Markets Strategist Quek Ser Leang at UOB Group sees the likelihood of extra gains in USD/THB in the short-term horizon.
Key Quotes
“We highlighted last Monday (08 May, spot at 33.95) that USD/THB ‘could consolidate first before dropping to 33.54’. We added, ‘in order to keep the current momentum going, USD/THB must stay below 34.23’. While USD/THB fell as expected, it rebounded from a low of 33.50.”
“Downward momentum has faded and this combined with oversold conditions suggests USD/THB could rebound further. However, any advance is unlikely to break the major resistance at 34.20 this week. On the downside, support is at 33.65, followed by 33.50. The latter level is a rather strong support now.”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
