Published: 2025-03-24T02:50:26.000Z
Chart USD/THB Update: Extending bounce from 33.55/50 support
Technical Analyst
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Extending bounce from the 33.55/33.50 support and break above the 33.80 resistance see room for extension to the 34.00 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.65 | * | Dec low | |
| R3 | 34.32 | ** | 3 Mar high | S2 | 33.50 | * | 5 Feb low | |
| R2 | 34.25 | * | 12 Feb high | S3 | 33.37 | ** | 24 Feb YTD low | |
| R1 | 34.00 | * | congestion | S4 | 33.30 | * | 61.8% Sep/Nov rally |
Asterisk denotes strength of level
02:50 GMT - Extending bounce from the 33.55/33.50 support and break above the 33.80 resistance see room for extension to the 34.00 congestion. Daily studies are unwinding oversold readings and break here, if seen, will see room to retest strong resistance at the 34.25/34.32 highs. Gains are seen corrective and expected to give way to fresh selling pressure later and break of 33.55/33.50 support will expose the 33.37 February YTD low to retest. Below this will extend the broader losses from November high to further retrace gains from the September low.