Published: 2025-07-31T03:11:09.000Z
Chart USD/THB Update: Extending gains
Technical Analyst
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Consolidation at the 32.50 wedge pattern resistance has given way to break to extend gains from 32.10 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.37 | * | Feb low | S1 | 32.50 | * | congestion | |
| R3 | 33.20 | * | 38.2% Apr/Jul fall | S2 | 32.30 | * | Jun low | |
| R2 | 33.05 | ** | Jun high | S3 | 32.10 | ** | 24 Jul YTD low | |
| R1 | 32.75/80 | ** | 9 Jul high, congestion | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
02:45 GMT - Consolidation at the 32.50 wedge pattern resistance has given way to break to extend gains from the 32.10, current year low. Positive daily and weekly studies keeps pressure on the upside and break of the 32.75/80 resistance will see room to further retrace the April/July losses and see extension to 33.20, 38.2% Fibonacci level. Meanwhile, support is raised to 32.50 congestion and broken wedge resistance which should now underpin and limit corrective pullback.