USD/THB 4H Chart: Upside potential could prevail

Source: Dukascopy Bank SA
4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuySell
Aggregate

Since the end of December, the USD/THB exchange rate has been trading within a symmetrical triangle pattern.  

Given that the currency pair is supported by the 55-, 100– and 200-period moving averages in the 30.00 area. Thus, a breakout south could occur in the nearest future, and the rate could exceed the 30.20 level. 

In the meantime, it is unlikely that bears could prevail in the market, and the exchange rate could decline below the psychological level at 30.00.

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