Published: 2025-06-09T03:12:27.000Z
Chart USD/THB Update: Consolidating, room for bounce
Technical Analyst
1
Still little change, as prices extend consolidation above the 32.50 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.50 | ** | congestion, 38.2% | S1 | 32.50 | * | congestion | |
| 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 | 32.80/90 | * | congestion, 29 May high | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
03:05 GMT - Still little change, as prices extend consolidation above the 32.50 congestion. Daily studies have turned up from oversold reading and suggest scope for bounce to retest resistance at the 32.80/32.90 congestion and 29 May high. Clearance here will confirm a small bottom in place at 26 May YTD low and clear the way for stronger correction to the 33.00/05 area and 33.25 congestion. Meanwhile, support at 32.50 underpin and should sustain bounce from 32.37 low. Only below here will extend the broader losses from the November high and see room to the critical 32.14/32.08, 2024/2022 year lows.