EURTHB Eyes Eurozone GDPEuro/Thai BahtSAXO:EURTHBYES_GroupYesterday Recap Yesterday, EURTHB closed at 38.20 at the Thai market close (16:30 ICT). Meanwhile, Eurozone Industrial Production for June came in at 0.0% MoM, better than expectations of -0.1%, while the YoY figure was +0.1%, also above expectations of -0.8%. This suggests that the Eurozone manufacturing sector remained more resilient than expected. In addition, the market expects the ECB to have room for another rate hike in September, which could provide short-term support for the EUR. Fundamental – August 14, 2026 EURTHB is expected to trade within a range with a slight bullish bias in the short term, while continuing to move in line with USDTHB. The market is focusing on the Eurozone Q2 GDP (2nd Estimate), which is expected to expand by +0.4% QoQ, compared with 0.0% previously, and +1.0% YoY, compared with 0.5% previously, suggesting signs of recovery in the Eurozone economy. Meanwhile, Employment Change is expected at +0.1% QoQ, unchanged from the previous reading. If the data comes in stronger than expected, it could provide short-term support for the EUR. However, the direction of EURTHB will also depend on the USD and global capital flows, particularly the USD’s reaction to US Retail Sales, an important indicator for assessing the economic outlook and the Fed’s monetary policy. In addition, the Thai stock market is expected to open higher in line with US equities overnight. This could support the Thai baht and put additional downward pressure on EURTHB in the short term. Technical EURTHB is expected to trade within a range with a slight bullish bias in the short term, as the price has formed a Higher Low and continues to move along the upward trendline. The pair is currently testing Resistance 1 at 38.33. If the price can sustain a break above this level, it could continue higher toward Resistance 2 at 38.37–38.39. Conversely, if the price fails to break through Resistance 1, profit-taking pressure could lead to a pullback toward Support at 38.27. As long as the price holds above this support level, the short-term bullish structure remains intact. However, a break below 38.24 would signal that bullish momentum is beginning to weaken. Bias: Sideways to Bullish Resistance: 38.33 / 38.37–38.39 Support: 38.27–38.24 Target: 38.37–38.39 Cut Loss: 38.25