USD/THB to extend its advance toward 35.00 on a break above 34.00 – SocGen

USD/THB has crossed above the monthly Ichimoku cloud denoting room for potential upside. Economists at Société Générale expect the pair to head towards the 35.00 level once above 34.00.

34.00 could be an interim hurdle

“The USD/THB pair is challenging a trend line drawn since 2015 at 34.00. An initial pullback is not ruled out, however, April high of 33.18 should cushion.”

“Beyond 34.00, next objective could be at 34.80/35.00.”