| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇗ |
The USD/THB currency pair has been trading within a falling wedge pattern since the beginning of May. The pair has already declined below the 32.00 level.
From a theoretical point of view, it is likely that a breakout north could occur in the nearest future, and the exchange rate could target the psychological level at 33.50.
Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-hour moving averages. Thus, it is likely that some downside potential could continue to prevail in the market. In this case the pair could gain support from the Fibo 61.80% at 31.18.