Published: 2025-06-02T03:11:04.000Z
Chart USD/THB Update: Consolidating, room for stronger bounce
Technical Analyst
1
Higher in consolidation from the 32.56/32.37 support as prices unwind the oversold daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.50 | ** | congestion, 38.2% | S1 | 32.56 | * | 6 May low | |
| R3 | 33.25 | * | congestion | S2 | 32.37 | ** | 26 May YTD low | |
| R2 | 33.00/05 | * | congestion, Apr low | S3 | 32.14 | ** | Sep 2024 year low | |
| R1 | 32.90 | 29 May high | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
03:10 GMT - Higher in consolidation from the 32.56/32.37 support as prices unwind the oversold daily studies. Would take break above 32.90 bounce high to fade the downside pressure and see room for stronger corrective gains to retrace losses from April high towards 33.00/25 congestion. Higher still, will open up room to strong resistance at 33.50, congestion and 38.2% Fibonacci level. Meanwhile, support at 32.56 and 32.37 lows underpin. Break here will extend losses from the November/April highs and see room to the critical 32.14/32.08, 2024/2022 year lows.