Published: 2025-02-13T03:04:37.000Z
Chart USD/THB Update: Under pressure from 34.25 bounce high
Technical Analyst
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No follow-through on break above the 34.17 high as prices settled back from the 34.25 bounce high to consolidate at the 34.00 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.68 | * | Dec high | S1 | 33.65 | * | Dec low | |
| R3 | 34.50 | * | congestion | S2 | 33.50 | ** | 5 Feb YTD low | |
| R2 | 34.35 | * | 17 Jan low | S3 | 33.30 | * | 61.8% Sep/Nov rally | |
| R1 | 34.25 | ** | 12 Feb high | S4 | 33.08 | * | 18 Oct low |
Asterisk denotes strength of level
03:00 GMT - No follow-through on break above the 34.17 high as prices settled back from the 34.25 bounce high to consolidate at the 34.00 level. Prices are unwinding the overbought intraday studies and suggest scope for pullback to retest the 33.65 and 33.50 lows. Below these will extend the broader losses from the 35.17 high of November to retrace rally from the September low towards 33.30, 61.8% Fibonacci level. Meanwhile, resistance at the 34.17/34.25 highs now expected to cap and sustain losses from the 34.84, January YTD high.