Yesterday Recap

AUDTHB closed at 23.27 THB per Australian dollar, trading within a narrow range as investors remained on the sidelines ahead of the release of the US Nonfarm Payrolls (NFP) report and the Unemployment Rate.

Fundamental Analysis

AUDTHB is expected to trade sideways as there are no major Australian economic releases scheduled today. Instead, market participants will focus on China's Foreign Exchange Reserves, which may provide insight into the economic stability of Australia's largest trading partner.

The key market catalyst, however, remains the release of the US Nonfarm Payrolls (NFP), Unemployment Rate, and Average Hourly Earnings. Stronger-than-expected US labor market data could support the US dollar and weigh on the Australian dollar. Conversely, weaker-than-expected US employment figures, combined with positive economic signals from China, could boost the AUD and push AUDTHB higher.

Technical Analysis

AUDTHB continues to trade within the 23.25–23.30 range after rebounding from the 23.25 support level and forming a short-term base.

Although the pair remains below the EMA, suggesting that the broader bearish momentum has yet to fade, a decisive break above the 23.30 resistance level could pave the way for further gains toward the 23.32 resistance area.

On the downside, failure to hold above 23.25 could trigger renewed selling pressure, shifting the pair back into a sideways to sideways-down trend. The short-term direction will largely depend on the outcome of tonight's US Nonfarm Payrolls (NFP) report.

Bias: Sideway to Bullish
Resistance: 23.30 – 23.32
Support: 23.25
Target: 23.30 – 23.32
Cut Loss: Below 23.25