Published: 2025-05-09T03:22:28.000Z
Chart USD/THB Update: Extending corrective bounce
Technical Analyst
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Break above the 33.00 congestion see prices extending bounce from fresh year low at 32.56
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.65 | ** | Dec low | S1 | 32.85 | * | congestion | |
| R3 | 33.50 | ** | congestion, 38.2% | S2 | 32.56/50 | ** | 6 May YTD, 2024 year lows | |
| R2 | 33.40 | * | congestion | S3 | 32.14 | ** | Sep 2024 year low | |
| R1 | 33.25 | * | 29 Apr low | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
03:15 GMT - Break above the 33.00 congestion see prices extending bounce from fresh year low at 32.56. Higher see room to the 33.25 resistance as prices unwind the oversold intraday and daily studies. Higher still will further retrace losses from the April high and see room to 33.40 then 33.50, 38.2% Fibonacci level. Meanwhile, support is raised to resistance at 32.85 congestion which should underpin. Failure will return focus to the downside for retest of 32.56 low. Below the latter will turn focus to the 32.14, 2024 year low.