USDTHB Eyes US PMIUSD/THBOANDA:USDTHBYES_GroupYesterday Recap Yesterday, USDTHB closed at 32.85 in the Thai market. Meanwhile, stronger-than-expected US economic data, including the Philadelphia Fed Manufacturing Index, Initial Jobless Claims, and the Leading Index, provided support for the USD. However, this support was only short-lived and was still insufficient to push USDTHB back above key resistance levels. The pair remains below the major moving averages and continues to trade within a short-term downtrend structure. Fundamental 21/8/26 Key News Today | Forecast | Previous 20:45: S&P Global Manufacturing PMI 54.0 | 53.9 20:45: S&P Global Services PMI 53.9 | 54.6 USDTHB is expected to trade within a range with a slight downside bias, with a slightly weaker USD bias. Although stronger US economic data overnight and higher US10Y yields provided support for the USD, the pair has yet to recover above key resistance levels, while the technical picture remains bearish. The market is now awaiting the PMI data to assess the continued momentum of the US economy. If the PMI comes in above expectations, it could support the USD and push USDTHB higher to test the 32.90–32.96 zone. Conversely, if the PMI comes in below expectations, particularly if the Services PMI declines from the previous reading, it could add further pressure on the USD and increase the possibility of USDTHB breaking below 32.83. Technical Analysis Bias: Bearish / USDTHB downside bias USDTHB remains bearish despite fundamental support for the USD from stronger-than-expected US economic data. However, the 1H chart remains below the major moving averages, suggesting that any rebound toward 32.90–32.96 could present a selling opportunity, with a downside target of 32.77 if the pair breaks below 32.83. Resistance: 32.90–32.96 This is the upper FVG zone. If the price rebounds into this area, selling pressure may emerge, with 32.90 acting as the first resistance level. Support: 32.83 A key support level. A break below this level would confirm further short-term selling pressure. Target: 32.77 (Downside) Cut Loss: 32.91 If the price moves back above this resistance level and holds, the short-term bearish structure would begin to weaken.