USD/THB Technical Analysis

The US Dollar has been sideways against the Thai Baht since the beginning of April in a 1.6% range. This sideways price action happens in a down trend that has been in place since when the FED started cutting the interest rate for the dollar in 2020. As the vaccination rollout accelerates in Thailand and the FED still has not taken out any of its stimulus for the economy, there is a potential for the US Dollar to keep losing ground against the Baht. From a technical point of view, if the price breaks below the 31.00, it could go to the 29.85 level in about 2 weeks.