- Analytics
- News and Tools
- Market News
- USD/THB: Scope for a retest of 34.55 – UOB
USD/THB: Scope for a retest of 34.55 – UOB
Markets Strategist Quek Ser Leang at UOB Group sees chances of USD/THB to revisit the 34.55 level in the near term.
Key Quotes
“We expected USD/THB to rebound further but we were of the view that ‘any advance is unlikely to break the major resistance at 34.20 this week’. We did not anticipate the surge in momentum as USD/THB soared to a high of 34.52. While short-term conditions are rather overbought, the rapid rise in USD/THB has room to test 34.55 before the risk of a more sustained pullback increases.”
“The next resistance at 34.75 is unlikely to come into view. On the downside, a break of 34.05 (minor support is at 34.20) would indicate that the current upward pressure has faded.”
© 2000-2024. 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
