Published: 2025-03-18T02:54:12.000Z
Chart USD/THB Update: Under pressure, focus return to 33.50/33.37 support
Technical Analyst
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Extending pullback following rejection from below the 34.00 level last week to break the 33.65/60 support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.32 | ** | 3 Mar high | S1 | 33.50 | * | 5 Feb low | |
| R3 | 34.25 | * | 12 Feb high | S2 | 33.37 | ** | 24 Feb YTD low | |
| R2 | 34.00 | ** | congestion | S3 | 33.30 | * | 61.8% Sep/Nov rally | |
| R1 | 33.65 | * | Dec low | S4 | 33.08 | * | 18 Oct low |
Asterisk denotes strength of level
02:50 GMT - Extending pullback following rejection from below the 34.00 level last week to break the 33.65/60 support. Below this opens up room for retest of the 33.50 and 33.37, February lows. Break of the latter will extend the broader losses from November high at 35.17 to retrace gains from the September low and see scope to the 33.30, 61.8% Fibonacci level. Lower still, will turn focus to the 33.08, 18 October low. Meanwhile, resistance is lowered to the December low at 33.65 which is expected to cap and sustain losses from the 34.00 congestion.