Forex
AUD/THB Edges Lower Amid Profit-Taking and Overbought Conditions
The Australian Dollar (AUD) vs Thai Baht (THB) cross edged lower on Wednesday due to overbought technical conditions triggering profit-taking and a loss of near-term momentum.
Despite this decline, the AUD/THB remains comfortably above key moving averages, maintaining an overall bullish structure and limiting the depth of the pullback.
The short-term resistance is at THB 23.818, while support is at THB 23.622. The Ichimoku Kijun at THB 23.554 adds another layer of support.