Published: 2025-05-15T02:52:33.000Z
Chart USD/THB Update: Pressuring 33.50 resistance
Technical Analyst
-
Consolidating test of 33.50 resistance and 50% Fibonacci level but pressure remains on the upside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.00 | * | congestion | S1 | 33.25 | * | 29 Apr low | |
| R3 | 33.77/78 | * | 28 Apr high, 50% | S2 | 33.05/00 | ** | 21 Apr low, congestion | |
| R2 | 33.65 | ** | Dec low | S3 | 32.80 | * | congestion | |
| R1 | 33.50 | ** | congestion, 38.2% | S4 | 32.56 | ** | 2023, 6 May YTD lows |
Asterisk denotes strength of level
02:50 GMT - Consolidating test of 33.50 resistance and 50% Fibonacci level but pressure remains on the upside. Positive daily studies suggest scope for break to extend gains from the 32.56, 6 May YTD low. Clearance will see room to strong resistance at 33.65, the December low. Higher still, will target 33.77/33.78, 28 April high and 50% Fibonacci level. Meanwhile, support is raised to 33.25 and this extend to the 33.05/33.00 area which is expected to underpin. Would take break of the latter to return focus to the downside for retest of 32.56 low.