| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Sell | Sell |
| Stochastic (5; 3) | Neutral | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Buy | Buy |
| SAR (0.02; 0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The USD/THB exchange rate was trading in an ascending channel for three-and-a-half months prior to breaching this pattern to the upside mid-June. This breakout was caused by the strong 2.88% surge which pushed the rate as high as the 32.80 mark.
The US Dollar has since edged even higher past the monthly R3 at 33.20. This is the pair's highest location since October 2017.
It is apparent that this strong appreciation has eased during the following two weeks. This means that bulls are unable to push higher and thus are likely to give up their positions. In addition, technical indicators on the 4H chart are converging with the price level which in turn strengthens this bearish scenario.
The nearest target for the following trading sessions is the breached senior channel and the 200-hour SMA. A successful breakout could result in a test of the 200-period SMA near 32.20.