The Thai baht opened the trading session at 33.80 per US dollar, marking a notable weakening from the firmer levels seen in recent sessions.
Market participants are closely monitoring the 33.70 support level, with resistance established at 34.00, suggesting a constrained trading range for the currency in the near term.
This shift follows a period where the baht had shown signs of strength, previously settling at 33.48 per dollar.
The move to 33.80 indicates renewed selling pressure, potentially driven by broader risk-off sentiment in emerging markets or shifts in US dollar liquidity.
The narrow band between support and resistance highlights the cautious stance of traders, who are waiting for clearer directional signals before committing to larger positions.
The baht’s performance is closely watched as a barometer for regional currency stability.