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(U1) Tilted Higher


(U1) Uptrend Weakening


Bullard Kickstarts Reflation Unwind Theme


Fresh 2021 Lows

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Spot USD/THB closed above the neckline of the recently completed double top pattern Thursday, casting doubt on the sustainability of the formation. It has edged lower this morning and last sits -0.057 at THB31.190.

  • Bears need a fall through May 5 low of THB31.072 to regain momentum and target Mar 26 low of THB31.060. Meanwhile, bulls are hoping that the signal from the recent golden cross is beginning to materialise, as they target Apr 26 high of THB31.493, followed by Apr 12 high of THB31.575.
  • Tourism Min Phiphat addressed concerns about the reopening of Phuket to foreign visitors. The off'l said that the number of Covid-19 cases in the resort island must fall to zero before allowing the entry of tourists, which is scheduled for Jul 1.
  • There is little of note on the local docket through next Friday, save for the usual weekly updates on foreign reserves. Worth noting that Dep PM Anutin will chair national tourism policy meeting today.