USD/THB: Still room for extra gains near term – UOB – by pabspiovano Thailand Currencies Crosses Banks
Key Quotes
“Last Monday , we held the view that USD/THB ‘has room to test 34.55 before the risk of a more sustained pullback increases’. We added, ‘the next resistance at 34.75 is unlikely to come into view’. The anticipated USD/THB strength exceeded our expectations as USD/THB soared to a high of 34.80 before ending the week on a strong note at 34.78 .”will not be surprising, severely overbought conditions suggest a sustained break above 35.05 is unlikely. The next major resistance at 35.
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