| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The USD/THB exchange rate continued to trade downwards within the falling wedge pattern. As apparent on the chart, the rate is testing the upper pattern at 30.29.
From a theoretical point of view, it is likely that a reversal south could occur within the following trading sessions, and the currency pair could continue to trade within the given pattern. Important levels to look out for is the monthly S2 and S3, located at 29.99 and 29.82 respectively.
However, note that the exchange rate is supported by the 55-, 100– and 200-hour moving averages. Therefore, if the given pattern does not hold, the rate could extend gains in the nearest future. In this case the pair could face the resistance of the monthly R1 at 30.39.