Published: 2025-03-07T03:02:01.000Z
Chart USD/THB Update: Turned up in consolidation from 33.55 low
Technical Analyst
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Turned up from above the 33.50 support as prices consolidate losses from the 34.32 high
| 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 - Turned up from above the 33.50 support as prices consolidate losses from the 34.32 high. Bounce see prices unwinding oversold intraday studies but consolidation expected to give way to fresh selling pressure later. Daily studies have turned down from overbought areas and suggest scope for retest of the 33.50 and 33.37, February lows. Break here 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.