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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CNH
CNH/THB failed to hold above its 50-MMA (THB4.7173) and following a brief uptick in early trade, it has pulled back from 2-year highs. That being said, the rate has struggled to make a clean break under Oct 21, 2020 high & former breakout level/yesterday's low at THB4.7146/4.7126. The RSI has steered clear of overbought territory, while the upper 2.0% Bollinger band has only been briefly tested, which suggests that there still is scope for renewed gains.
- The rate last trades -96 pips at THB4.7144. A clean breach of the aforementioned THB4.7146/4.7126 levels would allow bears to target Mar 5 low of THB4.6778. Further losses would shift focus to trendline support/50-DMA at THB4.6552/4.6543. Bulls look for a rally towards Apr 25, 2019 high of THB4.7635, a key near-term resistance.
Fig. 1: CNH/THB
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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