USD/THB 1H Chart: Falling wedge in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The US Dollar has been depreciating against the Thai Baht since the end of October when the USD/THB currency pair reversed from the upper boundary of the long-term descending channel. This movement has been bounded in the falling wedge pattern.  

Given that the pair is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that the general direction is expected to remain south within the following sessions. It is likely that the rate targets the support level—the Fibonacci 38.20% at 32.59.  

If given support holds, it is likely that a breakout north from the pattern occurs in the nearest future.

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