Quek Ser Leang at UOB Group’s Global Economics & Markets Research suggested USD/THB should remain under pressure as long as the 33.75 level caps the upside.

Key Quotes

“While USD/THB dropped to a 2-month low of 33.15 last week, downward momentum has not improved by much. That said, there is room for USD/THB to test 33.10.”

“For this week, the next support at 32.90 is unlikely to come under threat. Resistance is at 33.40 followed by 33.60. Looking ahead, USD/THB is expected to stay under pressure as long as it stays below the major resistance at 33.75.”