EURTHB Eyes German CPIEuro/Thai BahtSAXO:EURTHBYES_Group- Yesterday Recap Yesterday, EURTHB closed at 38.34 in the Thai market. Meanwhile, France inflation data came in line with expectations, while German Unemployment Change also came in line with expectations and decreased from the previous reading, reflecting that the German labor market has not deteriorated further. The market remains focused on ECB policy signals and inflation data as key factors for the EUR outlook. - Fundamental Analysis EURTHB Fundamental 31/8/26 Key News Today EU: 19:00 – German CPI YoY | - | 2.8% EU: 19:00 – German CPI MoM | - | 0.8% EU: 19:00 – German HICP YoY | - | 2.8% EU: 19:00 – German HICP MoM | - | 0.9% Today, the market will focus on German inflation data for August, which is preliminary data and important for assessing the Eurozone inflation outlook and the direction of ECB monetary policy. If inflation comes in higher than expected, it could reduce expectations for further ECB monetary policy easing and support the EUR. On the other hand, weaker-than-expected data could put pressure on the EUR as it would indicate that inflationary pressures are easing. Meanwhile, the direction of the USD and U.S. Bond Yields remains an important factor for EUR/USD. If the USD continues to strengthen, it could limit the upside of EURTHB. For the Thai Baht, if capital inflows continue and the Baht strengthens in line with global market sentiment, this could put pressure on EURTHB. However, if the Baht weakens, it could help limit the downside of EURTHB. Overall, EURTHB is expected to remain volatile within a range, with a bullish bias if German CPI/HICP comes in higher than expected. The main factors to watch are German CPI/HICP, ECB policy signals, the USD, and the direction of the Thai Baht. - Technical Analysis Bias: Sideway Up EURTHB remains in a Sideway Up trend after forming a higher Low and trading above the key moving averages. The key resistance is at 38.47. If the price breaks out above this level, EURTHB could move higher to test 38.50. Meanwhile, 38.40 is an important support level that needs to hold. Resistance: 38.47 This is a key resistance level. If the price breaks above 38.47, it could open the way for further upside toward 38.50. Support: 38.40 This is an important support level. As long as the price remains above this level, the overall structure remains Sideway Up. Target: 38.50 Cut Loss: 38.40 If the price breaks below 38.40, the short-term bullish structure would be invalidated, with potential for further downside.