Published: 2025-03-10T03:06:20.000Z
Chart USD/THB Update: Consolidation around 33.65 support, room for lower later
Technical Analyst
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Little change, as prices consolidate losses from the 34.32 high around the 33.65 support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.50 | * | 5 Feb low | |
| R3 | 34.32 | ** | 3 Mar high | S2 | 33.37 | ** | 24 Feb YTD low | |
| R2 | 34.25 | * | 12 Feb high | S3 | 33.30 | * | 61.8% Sep/Nov rally | |
| R1 | 34.00 | * | congestion | S4 | 33.08 | * | 18 Oct low |
Asterisk denotes strength of level
03:00 GMT - Little change, as prices consolidate losses from the 34.32 high around the 33.65 support. Bounce here see prices unwinding oversold intraday studies but this is expected to give way to fresh selling pressure later. Daily studies are unwinding overbought readings and suggest scope for retest of the 33.50 and 33.37, February lows. Break of these will further extend losses from the November high to the 33.30, 61.8% Fibonacci level. Meanwhile, resistance is lowered to the 33.80/34.00 congestion area which is expected to cap and sustain losses from the 34.32 high.