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DOLLAR-THB : USD/THB has been in a free fall today...>

DOLLAR-THB
DOLLAR-THB : USD/THB has been in a free fall today and has extended its recent
gains through the 200-DMA & Feb 4 low of THB30.91. Participants have digested
yesterday's Fed communique, which pushed back against any interest rate hikes in
the U.S. at least until the end of 2022. Against this backdrop, there is hope
that Thailand's economy will recover as it gradually reopens.
- Thailand is tentatively planning to implement the fourth stage of its business
reopening on Friday, but it is still subject to approval. Elsewhere, the gov't
may consider removing the nationwide curfew for a 15-day trial.
- With the rate changing hands -26 pips at THB30.90, bears look for a drop under
the lower 3.0% Bollinger band at THB30.78 before attempting a move at the lower
3.0% 10-DMA envelope at THB30.54. Bulls would be pleased by a rebound above the
200-DMA at THB31.09 before taking aim at Jun 4 high of THB31.68.
- Thailand's foreign reserves data will be released on Friday.
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