USDTHB Holds Bearish BiasUSD/THBOANDA:USDTHBYES_Group- Friday Recap USDTHB closed Friday at 33.16, trading within a range with intermittent buying pressure on the USD. However, U.S. Retail Sales data released during the evening came in below expectations across all three measures—Core Retail Sales, Retail Sales, and Retail Control Group—reflecting a slowdown in U.S. consumer spending and putting pressure on the USD. Meanwhile, the Thai baht continued to receive support from domestic factors, preventing USDTHB from breaking clearly above the 33.20 zone. - Fundamental Analysis | 17 Aug 2026 The DXY opened lower and tested support around 99.51. Although this level could trigger a rebound, the overall outlook remains under selling pressure. Meanwhile, gold continues to trade near the 4,400 resistance level. If gold remains elevated, this could reflect further pressure on the USD. Thailand’s Q2 GDP came in better than market expectations, with GDP YoY at 1.9%, above the 1.7% forecast, while GDP QoQ came in at -0.2%, better than the -0.6% forecast. Although the economy contracted from the previous quarter, the decline was smaller than expected. This is a positive factor for the Thai baht and could put downward pressure on USDTHB in the short term. In addition, weaker-than-expected U.S. Retail Sales data continues to weigh on the U.S. dollar. Later today, the market will focus on the Empire State Manufacturing Index at 19:30 and the NAHB Housing Market Index at 21:00. If U.S. economic data comes in weaker than expected, it could increase pressure on the USD and support further appreciation of the Thai baht. Overall, USDTHB is expected to trade within a range with a bearish bias in the short term. Fundamental factors continue to favor a stronger Thai baht, supported by better-than-expected Thai GDP and ongoing pressure on the USD. If the pair breaks below key support, USDTHB could extend its decline toward 33.00. Technical Analysis Bias: Bearish USDTHB has continued to decline after failing to hold above the 33.11–33.14 zone. The pair broke below short-term support and is trading below its moving averages, keeping short-term momentum tilted to the downside. Price is now approaching key support around 33.04–33.00. If USDTHB breaks clearly below 33.04, selling pressure could continue toward 33.00, which is a key structural support level. However, if price fails to break below 33.04 and buying pressure returns, a rebound toward resistance at 33.08 and 33.10–33.11 could occur. Nevertheless, as long as the pair remains below this resistance zone, the short-term outlook remains tilted to the downside. Resistance: 33.08 / 33.11 Support: 33.04 / 33.00 Target: 33.00 Cut Loss: Above 33.11