USDTHB Holds Bullish BiasUSD/THBOANDA:USDTHBYES_GroupYesterday Recap — 21/8/26 USDTHB closed at 32.67 in the Thai market on Friday. US PMI data was strong overall, although Manufacturing PMI declined to 53.2 from 53.9 and came in below expectations of 54.0. Meanwhile, Services PMI rose to 56.8 from 54.6, significantly above expectations of 53.9, while Composite PMI increased to 56.0 from 54.5 and exceeded expectations of 54.0. The data indicated that US economic activity remains resilient, with the services sector continuing to be the main growth driver, providing some support for the USD. Fundamental Analysis — 24/8/26 Key Event Today | Forecast | Previous US: 19:30 — Chicago Fed National Activity Index (Jul.) — | -0.02 The Thai stock market opened lower this morning amid domestic selling pressure, creating a more Risk-Off investment environment. This could put short-term pressure on the Thai baht, while USDTHB may receive support from increased demand for the USD. Therefore, USDTHB is expected to trade within a range with a slight bullish bias for the USD. If selling pressure in the Thai stock market continues, it could support USDTHB in moving higher to test the key resistance levels at 32.68 and 32.74. Later today, the market will focus on the Chicago Fed National Activity Index (July). If the data comes in stronger than the previous reading, it could support the USD and increase the probability of further upside in USDTHB. Conversely, weaker-than-expected data could limit the pair's upside. Technical Analysis Bias: Sideways Down / Bearish USDTHB remains within a Sideways Down structure but has started to see buying interest around the 32.61 support level. The key trading range is 32.61–32.68. If the price breaks above 32.68, USDTHB could rebound toward 32.74. However, if it fails to break above 32.68, the pair may decline again to retest the 32.61 support. Resistance: 32.68 A key resistance level. A breakout could open the way toward 32.74. Support: 32.61 Key support. A break below this level could lead to a decline toward 32.54. Target: 32.74 Cut Loss: 32.54