USD/THB 1H Chart: Bears likely to prevail

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

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

The US Dollar has lost about 4.80% of its value against the Thai Baht since November 11. Bears have led the currency pair towards the psychological level at 31.60.  

Given that the exchange rate is being pressured by the 55-, 100– and 200-hour SMAs, it is likely that the general direction is expected to remain south. A possible downside target is the Fibonacci 100.00% retracement at the 31.11 mark. 

However, this decline might not be immediate, and the currency pair might re-test the resistance level formed by the Fibonacci 61.80% retracement at 61.80%.

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