USD/THB faces a tough resistance around 35.57 – UOB – by pabspiovano Thailand Currencies Crosses Banks
Market Strategist at UOB Group Quek Ser Leang noted further upside in USD/THB is expected to meet a solid hurdle around 35.57.“We highlighted last Monday that USD/THB is likely to consolidate between 33.90 and 34.65. Our view was incorrect as USD/THB continues to rally .”strength appears likely this week in view of the overbought conditions, USD/THB may find the major resistance at 35.57 difficult to break. On the downside, any pullback is likely to stay above the major support level at 34.60.
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