By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: USD/THB gains strength as bearish pressure is unable to break through the 100-day Simple Moving Average
Share
Notification Show More
Latest News
Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025
Business Crypto
Moscow Metro Marks 90 Years with Technological Advancements and Heritage Events
Lifestyle World
Senkron Digital Showcases CyberPact Service at GISEC Global 2025
Gulf UAE
Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World
Business Gulf UAE
Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > USD/THB gains strength as bearish pressure is unable to break through the 100-day Simple Moving Average
Forex

USD/THB gains strength as bearish pressure is unable to break through the 100-day Simple Moving Average

News Room
Last updated: 2024/05/21 at 8:28 PM
News Room
Share
2 Min Read
SHARE

The USD/THB pair saw significant gains on Tuesday, increasing by 0.80% and reaching a level of 36.36. This rally was a result of bears failing to push the pair below the 100-day Simple Moving Average at 36.05. Despite stronger-than-expected inflation numbers in April’s US Consumer Price Index (CPI) data, the USD managed to hold its ground as the Federal Reserve (Fed) continues to urge patience regarding rate cuts.

The USD/THB pair is expected to maintain a steady pace in the near term due to the cautious stance of Fed officials and the market’s wait-and-see approach. However, upcoming economic data releases such as May’s S&P PMIs and April’s Durable Goods Orders from the US could potentially trigger movements in the pair. The release of the Federal Open Market Committee (FOMC) meeting minutes on Wednesday may also introduce volatility into the market.

Technical analysis of the USD/THB pair shows that the Relative Strength Index (RSI) is indicating a minor strengthening trend, moving away from oversold conditions. The Moving Average Convergence Divergence (MACD) histogram suggests a decrease in negative momentum, hinting at a possible shift in market balance. The pair remains bullish overall, supported by the 10 and 200-day SMAs, but a loss of the 20-day SMA indicates a slightly negative short-term trend.

Overall, the USD/THB pair is expected to continue trading within a limited range in the coming days, with potential volatility triggered by economic data releases and the FOMC meeting minutes. The market’s focus will remain on any updates from Fed officials regarding the timing of rate cuts and the health of the US economy. Traders should closely monitor technical indicators and key support and resistance levels for potential trading opportunities in the USD/THB pair.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room May 21, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Ministry of Education celebrates winners of Arabic language competitions
Next Article Three Arrested in HK$5.1 Million Virtual Investment Talk Show Ticket Scam by Hong Kong Police
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025
Business Crypto May 20, 2025
Moscow Metro Marks 90 Years with Technological Advancements and Heritage Events
Lifestyle World May 19, 2025
Senkron Digital Showcases CyberPact Service at GISEC Global 2025
Gulf UAE May 12, 2025
Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World
Business Gulf UAE May 10, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?